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Financier Levon Hampartzoumian expressed his opinion on Bulgaria’s economic and financial development in the aftermath of COVID-19.
According to him, the so-called credit default that had already ended was a regulatory option for anyone who requested that financial institutions give them a deferment to pay their debts. According to him, the banks will most likely show understanding and can continue with the deferrals, but he emphasized that this is a topic of conversation between the bank and the client for a possible renegotiation.
Hampartzoumian said he expects a rise in non-performing loans, but not a boom.
People still have income. You cannot expect a catastrophic breakdown at all. But we must also be prepared for that. People are better off avoiding taking new loans to pay off old ones. But in general, Bulgarians are not over-indebted as in Anglo-Saxon countries, he explained, adding that there may be some increase in interest rates, but he does not think it will be as strong.
“It is very difficult to summarize, there is a certain decline in our economy, but there are companies and people who have not entered into crisis. In any case, the world will have a different structure of production and supply chains, ” Hampartzoumian commented on bTV’s morning block.
When asked how it happened that in the conditions of economic crisis the millionaires in our country have increased, the financier said that they are probably people with good businesses or those who have received a good inheritance or have won the lottery.
Inequality is growing not only in our country, but throughout the world. There are people whose business, albeit in a bad year, is thriving, Levon Hampartzoumian said.
Regarding the entry of Bulgaria into the Eurozone, the expert pointed out that our country is ready.
Bulgaria is ready, I hope it happens faster. 2024 is a slightly optimistic date. I just hope it doesn’t happen like when we entered Schengen, where everything was technically ready again, said Hampartzoumian at the end.
Sofia, Bulgaria
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