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Burgas opposes high interest rates

Submitted on Thursday, 19 March 2009No Comment

A petition against the unwarranted high interest rates in Banks and the increase of taxes for their customer services begins in Burgas today.

The National association of Bulgarian business is the initiator of the petition. Representatives of the organization will be in front of the municipality of Burgas every day between 10:00 and 15:00 o’clock until March 31st.

The association insists that the government must exercise control over the banks and approve the law changes that would limit their rights to increase the interest rates on credit contracts that already exist.

“The government must exercise administartive and legal pressure on banks to ensure their aid with low-interest credits for the small and average business, as well as the mortgage credits for citizens”, says the chairman of the association Svetlozar Nikolov.