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Consumer lending in Belarus up by almost a third in H1 2017

People have begun to take loans more often. This was facilitated by a repeated decrease in the refinancing rate and a stable economic situation in Belarus. 

In addition, banks are refinancing previously issued loans. This is another moving factor in the market.

Moreover, seasonality it yet another reason - many Belarusians take a loan for housing repairs.

The National Bank has been steadily decreasing the refinancing rate by about 1% a month. It is now at 12% and a decision has been recently made to lower it further to 11.5%. This should revitalize the loan market.

Consumer lending in Belarus up by almost a third in H1 2017