The refinancing rate of the National Bank of Belarus will be reduced to 20.5% per annum from July 16.

July 16, Minsk /BELTA/. The refinancing rate in Belarus will be reduced by 1 percentage point from July 16 and set at 20.5% per annum, reports a BELTA correspondent.

July 16, Minsk /BELTA/. The refinancing rate in Belarus will be reduced by 1 percentage point from July 16 and set at 20.5% per annum, reports a BELTA correspondent.

The reduction in the refinancing rate will contribute to increased availability of credit resources and a decrease in the debt burden on enterprises in the real sector of the economy. At the same time, deposits in Belarusian rubles will remain more profitable compared to foreign currency deposits.

According to the National Bank's forecasts, by the end of 2014, the refinancing rate may decrease to 20% per annum, and the average loan rate to 29% per annum.

This is the third reduction in the refinancing rate since the beginning of the year, with previous reductions in April and May. Both times, the rate was reduced by 1 percentage point.-0-

News of Belarus (BELTA)