YEREVAN, MAY 26, ARMENPRESS. Central Bank governor Martin Galstyan forecasts drop in consumer loans and growth in mortgage loans during 2021.

Speaking in parliament in response to lawmaker Mikayel Melkumyan’s question, he said the cenbank has discussed with all banks their strategic plans for the current year. The banking system will try to be conservative in 2021, namely in terms of consumer loans.

“Last year, we had an 8% drop in the population’s income. Therefore, they decided to introduce more strict conditions for loans, and they could also make some revision of the interest rate, which will impact the demand for consumer loans.”

Editing and Translating by Stepan Kocharyan