Law passed to make mortgages more accessible

The National Assembly has passed a law designed to reduce the impact of the annual increase in the minimum wage on households' creditworthiness after the latest increase rendered much of the population ineligible for a mortgage.

Amendments to the macro-prudential supervision of the financial system act will allow the central bank to adjust lending restrictions independently of legislation which determines what amount of money borrowers need to have left on their account after they have paid off their loan instalment.

Every time the minimum wage rose, the required amount of...