Opposition MP slams Gov’t for soaring interest rates on mortgage loans

Khatia Dekanoidze, an opposition MP, on Monday slammed the Georgian Dream authorities for soaring interest rates on mortgage loans. 

“An inept state plagued by high inflation and kleptocracy poses a significant risk for banks”, Dekanoidze claimed and pointed out the soaring interest rates on mortgage loans, attributing it to the state’s shortcomings, including escalating inflation and the depreciation of the national currency, which she said in turn amplifies risks.

“The government bears responsibility for the exorbitant interest rates, burdening the entire middle class with over two decades of interest payments on home mortgages, exceeding the initial loan amounts. An incompetent state, marked by high inflation and kleptocracy, poses a substantial risk for banks,” Dekanoidze stressed. 

The comment came following the eviction of a family in Tbilisi by the National Bureau of Enforcement.