The figures point out the economy is growing. As of the 11 months of 2017, the GDP increased by 2.2%. One of the indicators that reflect the balance of our monetary policy is the refinancing rate. In 2017 alone, it was decreased 8 times now and stands at 11%. This is the lowest figure for the last 7 years.
Against this background, of course, interests on loans are also declining. For example, in Belarusbank, the leading bank of Belarus, at the beginning of the year it was possible to take the necessary amount in debt almost at 20%, today, the interest rate is 11.5%.
This week, the President met with Chairman of the Board of OAO Belarusbank Viktor Ananich. The Chairman announced that next year the bank will continue to support small and medium-sized businesses. About 1 billion rubles will be directed to loans. 400 million will be allocated to finance housing construction.
Belarusbank will keep its social focus as well - this was the demand of the President. Alexander Lukashenko also approved the development strategy of the bank in 2018-2020. The strategy focuses on increasing efficiency and manufacturability.
