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04 August 2022, 13:50

Kallaur: Preferential loans account for almost a third of lending in Belarus

National Bank of Belarus
National Bank of Belarus

BREST, 4 August (BelTA) – The monetary policy in Belarus is designed to stimulate the real sector of the economy, Chairman of the Board of the National Bank Pavel Kallaur said at a meeting of the Brest regional administration in Brest on 4 august, BelTA has learned.

"As for the budget and monetary policy in the new realities, they are designed to stimulate the real sector of the economy and help it adapt to the challenges, new environment," Pavel Kallaur said.

According to him, there are no problems with lending in the country. "There are no problems with financing. A number of measures have been taken, including on the instruction of the head of state, at the initiative of the Economy Ministry. There are certain programs; we have redirected many resources through the Development Bank. About 30% of the loans issued in the country are issued on a preferential basis. The preferential interest rate is generally 6%. With inflation, the state subsidizes 12% to those who take loans. These are super-stimulating conditions, including the programs for investments for small businesses," the head of the National Bank said.

On 4 August the Brest regional administration hosted a meeting to consider the social and economic development and execution of the budget of Brest Oblast in H1 2022. The meeting in Brest was attended by Aide to the President - Inspector for Brest Oblast Valery Vakulchik and Minister of Economy Aleksandr Chervyakov.

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