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economic model

National Bank ignores Belarus’ economy losses from Russian rouble devaluation

National Bank ignores Belarus’ economy losses from Russian rouble devaluation

National Bank changed its mind regarding lower discount rate by January 1st, 2015

National Bank changed its mind regarding lower discount rate by January 1st, 2015

National Bank pushes for lower interests on corporate loans

National Bank pushes for lower interests on corporate loans

Lower loan interest rates led to record number of outstanding loans

Lower loan interest rates led to record number of outstanding loans

Higher income tax to improve 2015 budget balance

Higher income tax to improve 2015 budget balance

Belarusians regained confidence in national currency deposits

Belarusians regained confidence in national currency deposits

Two-month break for Belarus’ international reserves

Two-month break for Belarus’ international reserves

National Bank measures to reduce consumer lending lower banking sector profits

National Bank measures to reduce consumer lending lower banking sector profits

National Bank outlines monetary policy goals until late 2014

National Bank outlines monetary policy goals until late 2014

In July 2014 National Bank did not dive into international reserves to meet foreign exchange market’s demand

In July 2014 National Bank did not dive into international reserves to meet foreign exchange market’s demand

Government and National Bank can relax about international reserves for next two months

Government and National Bank can relax about international reserves for next two months

Economic lending frozen pending further reduction of loan interest rates

Economic lending frozen pending further reduction of loan interest rates

Belarus’ external debt will rise

Belarus’ external debt will rise

Reduced interest rates on deposits create favourable environment for liquidity crisis in Belarus

Reduced interest rates on deposits create favourable environment for liquidity crisis in Belarus

National Bank risks turning off depositors by supporting real sector

National Bank risks turning off depositors by supporting real sector

Exchange market approaching equilibrium

Exchange market approaching equilibrium

National Bank to limit corporate loans’ interest rates

National Bank to limit corporate loans’ interest rates

National Bank to reduce consumer imports

National Bank to reduce consumer imports

Cheap loans only for select few businesses and industries

Cheap loans only for select few businesses and industries

National Bank has lost domestic sources to replenish international reserves

National Bank has lost domestic sources to replenish international reserves

National Bank continues to reduce interest rates

National Bank continues to reduce interest rates

Government continues to stimulate price-growth

Government continues to stimulate price-growth

On January 1st, 2014, Belarus’ gross foreign debt was 54.8% of GDP

On January 1st, 2014, Belarus’ gross foreign debt was 54.8% of GDP

Devaluation in Kazakhstan will negatively impact Belarus’ international trade

Devaluation in Kazakhstan will negatively impact Belarus’ international trade

Population becomes net seller of foreign currency

Population becomes net seller of foreign currency

Privatisation and banking sector are the most likely sources to replenish international reserves

Privatisation and banking sector are the most likely sources to replenish international reserves

Restrictions on foreign currency lending carry risks

Restrictions on foreign currency lending carry risks

Banks earn less for macroeconomic stability

Banks earn less for macroeconomic stability

National Bank triggers deposit outflow from banks

National Bank triggers deposit outflow from banks

Affordable corporate loans may put pressure on financial market

Affordable corporate loans may put pressure on financial market

In the red: Belarus’ foreign trade balance

In the red: Belarus’ foreign trade balance

National Bank stakes all

National Bank stakes all

Belarusians are well-prepared for devaluation

Belarusians are well-prepared for devaluation

Devaluation on cards, poor economic model to blame

Devaluation on cards, poor economic model to blame

Government’s adjustments to 2014 forecast may not be approved

Government’s adjustments to 2014 forecast may not be approved

Wage growth provokes economic crisis in Belarus

Wage growth provokes economic crisis in Belarus