Strong Armenia member criticizes loan rates, praises Georgia's business support

Narek Karapetyan, a senior member of the Strong Armenia party and the party’s leading candidate for the June 7 parliamentary elections, criticized Armenia’s business environment while highlighting neighboring Georgia’s support for young entrepreneurs.

In a social media post on Monday, Karapetyan said Georgian citizens who turn 18 and want to start or expand a small business can receive support through the Create in Georgia program, which offers loans at interest rates of 7-8 percent. He contrasted it with Armenia, where business loans typically carry interest rates of 14-15 percent.

“Georgia is governed by a businessman, while Armenia’s leader is a yellow journalist,” he wrote.