Credit organizations set high interest rates, but it is the choice of every citizen to apply or not apply for a loan. This is what deputy of the ruling My Step bloc of the National Assembly of Armenia Victor Yengibaryan said during today’s parliamentary hearings entitled “Issues on application of penalties, fines and loan interest rates, credit amnesty and other loan-related issues in the banking system of Armenia”.

According to him, it is necessary to make people clearly understand at money is a good, and banks need to be viewed as stores from which money can be purchased.

Yengibaryan added that if the parliament passes a law on credit amnesty, the country’s economy will be on the verge of collapse.