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Bad loans increase

By Messenger Staff
Thursday, November 22
According to the information from the National Bank of Georgia, the amount of bad loans in the country has reached 212 million GEL for October 2012. This is 17% more than in 2011. The most dramatic time for accumulating bad loans was the war in 2008 and the period after it. Many people lost property or became unable to pay their loans. The analysts think that the tendency might become even worse as the economy is not functioning properly, solid portion of population is beyond the poverty line and if the appropriate measures are not taken soon, it might become worse.