Advisory Council under aegis of National Bank discusses limits on lending to economy


The Advisory Council under the aegis of the National Bank of Belarus (NBB) held a meeting in Minsk on October 16 to discuss measures to limit banks' lending to businesses.

The meeting was chaired by NBB head Nadzeya Yermakova.

The measures were discussed in the light of a plan of joint action by the NBB and the Council of Ministers to reform the economy and make it more competitive. Participants noted that "lending should secure a sustainable and balanced development of the Belarusian economy," said the NBB press office, adding that the efficient use of bank loans was key to fulfilling the task.
The authorities plan to limit lending to the economy to 30 trillion rubels ($3.3 billion) a month until the end of the year. According to the government, the lending should increase by no more than 52 trillion in 2014.

The press office said that the NBB would take into account recommendations made at the meeting while determining its monetary policy. //BelaPAN