The National Bank of the Republic of Belarus. An archive photo
MINSK, 19 January (BelTA) – The data published on the National Bank website suggests that the interest rates on the national currency deposits and loans that were effective in December 2023 made savings in Belarusian rubles more attractive and boosted the borrowing activity, BelTA has learned.
The average interest rate on new Belarusian-ruble time deposits for individuals was 9.72% per annum in December 2023. Long-term deposits offered the highest return.
The average interest rate on new Belarusian-ruble deposits for individuals for a period of more than a year was 12.63% per annum in December 2023 with annual inflation being at 5.8%. In December 2022, the interest rate on these deposits was 14.73% per annum with annual inflation at 12.8%.
The average interest rate on new loans (excluding preferential loans) in Belarusian rubles for legal entities was 9.2% per annum, down by 1 percentage point over December 2022. At the same time, the average annualized rate in 2023 was 8.69% vs 14.87% in 2022.
The average interest rate on new national currency loans (excluding preferential ones) provided to individuals shrank by 1.74 percentage points over December 2022 down to 10% per annum in December 2023.
