A new record, but so far only in the amount of loans: Belarusians have taken consumer loans for $ 1 billion.
In May alone Belarusians borrowed 136 million rubles more from banks than they paid back. If compared with the previous year, in January-May 2016 consumer loan debt has decreased by 4 per cent, while compared with the same period in 2017 — it is up 17%.
According to analysts, this is happening because getting loan is now made easy — since 1 May, no income statement is necessary to get a loan. The number of issued loans was also affected by the slowdown of inflation, which resulted in interest rates for individuals decreasing twofold in the past year. Last year, banks issued loans at 29%, and this year already at 14.4%.
