Фото: Reform.by
The National Bank is taking measures to limit consumer imports. This is stated in the report “Ensuring Financial Stability in 2025, Objectives for 2026” by First Deputy Chairman of the regulator Aliaksandr Yahorau, published in the latest issue of the journal Banking Bulletin.
According to the report, the main risk to the balance of domestic policy is the significant growth of consumer imports. In 2021, they amounted to around $8 billion, while by the end of last year they had reached $16 billion.
“In this regard, the National Bank pays special attention to preventing risks of growth in consumer imports specifically through consumer lending. It is necessary that financial resources, including consumer loans, are primarily directed toward economic growth within the country, rather than stimulating the economic growth of countries that supply imports to Belarus. We believe that the measures taken in 2025 and planned for 2026 will make it possible to limit the pace of growth of consumer imports.
The National Bank will continue to monitor the distribution of financial resources toward consumer imports and take all measures necessary to prevent the growth of imbalances in this area,” the publication states.
Risks related to lending to individuals are assessed as low. For the majority of borrowers, the debt burden ratio is below 40 percent. This, the report notes, indicates citizens’ ability to service their loans, as well as the potential for further growth in lending.