Kyrgyzstan has most expensive bank credits among Eurasian Economic Union

BISHKEK. KAZINFORM - Kyrgyzstan has the most expensive bank credits issued for the individuals among the countries of the Eurasian Economic Union, AKI Press informed citing statistics published by the Eurasian Economic Commission for the second quarter of 2015.

The average interest rate on short-term loans given to individuals in Kyrgyzstan in foreign currency is 16%, Kazakhstan - 10.3%, Russia - 12.3%, and Armenia - 15.5%. The average interest rate on long-term loans given to individuals in Kyrgyzstan in national currency amounted to 19.1%, Kazakhstan - 11.2%, Russia - 10.6%, and Armenia - 16%. The rates for legal entities are also higher in Kyrgyzstan than other member states of the union. Weighted average interest rate on short-term loans in domestic currency in Kyrgyzstan amounted to 31.6% and Belarus - 32.8%.