Central Bank President Reveals Statistics on Loans Written Off for War Casualties and the Disabled

The financial system has written off loans amounting to approximately 2.5 billion drams for those killed in the war, their relatives, and individuals with disabilities. This was announced by the President of the Central Bank, Martin Galstyan, during a press conference.

Galstyan noted that throughout 2020, loans amounting to 1.3 trillion drams were restructured by financial institutions. He emphasized that the economy is experiencing overheating, leading individuals to take on disproportionately larger credit obligations. “The majority of loan types consist of business loans at about 67 percent, while mortgage loans account for 24 percent. This year, we are witnessing a decrease in demand for certain lending resources, while the proportion of satisfied applications has not seen significant change,” stated the Central Bank President.