Economy ministry encourages banks to offer loans for Belarus-made goods

November 11, BPN. All Belarusian banks should offer loans for locally manufactured goods amid brisk demand, Deputy Economy Minister Dźmitryj Jaraševič has told the National Bank’s board.

“We need to support this trend,” he is quoted as saying by the economy ministry’s press office.

The economy is showing signs of recovery despite Western sanctions, he said, citing a rise sales margins to nearly 9 percent and a reduction in the number of unprofitable companies to a seven-year low.

“We are on track for a record [trade] surplus of almost $3.8 billion in the first nine months,” Jaraševič said.

Belarus’ foreign trade in goods fell by 6.9 percent in September 2022 year on year, the Eurasian Development Bank said in its recent report. It also noted that increased exports to Russia, Asia, and Africa have not yet fully offset the drop in exports to the EU and other countries.