We borrow twice more credits than we save. Deposits increased by 11.1%, household loans by 18.6% at the end of April on an annual basis, BNB data show. Will there be an increase in interest rates on loans, comments financier Levon Hampartsumyan in the studio of Nova TV.
According to him, the economy is in good condition as long as deposits and loans are growing. “This is an indicator of people's confidence in the banking system and their future incomes”, he added.
The expert indicated that we can expect higher interest rates in the order of 4% to 7%. The financier explained that raising the interest rate is a fight against inflation. He added that interest rates differ in the Eurozone.
Khampartzumyan pointed out that an increase in inflation cannot be expected after the adoption of the euro in the country. He said that control and competition are what keep prices within certain limits.