Head of National Bank: Georgia is a spendthrift nation

Georgia is celebrating the World Savings Day.

As the President of the National Bank, Giorgi Kadagidze announced, Georgian people are very fond of spending money. "Georgians are often caught in a credit trap, said Kadagidze at a press-conference. According to him, sometimes Georgians accumulate too many loans, then get one big credit to cover these loans and are obliged to sacrifice their real estate.

The National Bank reports that Georgian Banks are celebrating International Savings Day for the second time.

"In the civilized world, this problem is dealt with maximum awareness and consumer education Kadagidze added.

International Savings Day is celebrated on 31th of October in many countries of the world.