Cheap consumer loans to stimulate domestic goods sales in Belarus

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April 22, 2016 18:58

The Trade Ministry proposed the Government to resume cheap consumer loans for goods made in Belarus in 2015.

Given the deterioration in the retail trade turnover dynamics due to falling real incomes, the Government might approve this proposal. The list of goods subject to preferential consumer loans may be extended, and the amount of funds needed to compensate for the banks’ losses from granting such loans, is not essential for the budget. Cheap consumer loans may not be resumed if Belarus’ economy requires additional state subsidies due to poor sales of Belarusian products on foreign markets.