Refinancing rate at its historical minimum: 9% per annum

20 ноября 2019

3 denominations were held in Belarus over 25 years; 8 zeros have been removed from our money in total.

Stability in the financial market has been observed since 2017. If at the beginning of the year the rate was 17%, then by the end it was 11%. The regulator decided to reduce it to 9,5% in August and today it is 9%. It means cheaper loans and confidence in the Belarusian ruble, its stability in the foreign exchange market. Loans to our businessmen in the national currency are provided by more and more financial institutions.

As for the structure of the loan portfolio, the National Bank claims: there is a gradual de-dollarization. Ruble loans are expected to grow faster than foreign currency next year.

Confidence in the national currency is now at a high level. Many people are concerned about the inflation issues. 5% is the goal for this year, and the forecast for the next. The cautious monetary policy that the National Bank has been pursuing recently has increased trust. The President noted calmness in the financial market of the country before the meeting with the Head of the National Bank.

The Belarusian ruble is one of 3 most popular currencies in Russia. It turned out to be the most suitable foreign currency for savings after the traditional dollar and euro. The reason for this is the high interest rates on deposits in Belarusian banks and the desire of the Belarusians working in Russia to have savings in their own currency.

Belarus has prepared a draft strategy to increase confidence in the national currency. The key approaches include ensuring consistently low inflation, and creating a transparent and comfortable economic environment, refusing to use foreign currencies in payments within the country, as well as in the tax, rental and other payments.