MINSK, August 17 (Itar-Tass) -- Belarus has created conditions for further reduction of the refinancing rate, Belarusian National Bank head Pyotr Prokopovich told President Alexander Lukashenko on Tuesday.
“The refinancing rate has been cut several times this year. It will be cut for the fifth time in the year on August 18. In all, the refinancing rate will reduce from 13.5% in January to 11% in August,” he said.
The cost of loans dropped by almost 40% during the year, and the amount of crediting enlarged, Prokopovich said. The number of loans granted to economic entities increased by over 34% during the year.
The Belarusian ruble will remain steady, and exchange rate fluctuations will not exceed 2-3% depending on the situation on the domestic and foreign markets, he said.