Interest rates on loans in Belarus continued to decline

Loan rates in Belarus continued to decline in August 2023 amid a further slowdown in annual inflation. In August, inflation was 2.3%, and in June the indicator reached 2.7%, BelTA reported.

The average interest rate on new loans for individuals was 10.25% per annum, having decreased by 0.2 percentage points compared to the previous month. Compared to August 2022, the average rate decreased by 3.7%.

Let us remind you that deflation returned to Belarus in August and the cost of foods decreased.

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