Credits

Belarus took almost $600 million of Chinese loans to upgrade the cement industry in 2015-2019 alone.

The population's debt on consumption loans has steadily increased up to BYN12bn in April 2019 against BYN10bn in June 2018

Belarus Ambassador Kiryl Rudy and China Development Bank Chairman Zhao Huan signed the loan agreement on 24 April.

Belarus' gross external debt has decreased by 1% or $173.1 million since the beginning of the year 2018.

One third of the loans were taken for consumption needs, the remaining two thirds - for real estate and construction.

An International Monetary Fund mission will stay in Belarus on 9-13 July to review the current economic situation in the country.

Belarusians borrowed BYN1.3 billion ($650 million) from banks in 2017 - a twofold increase against the previous year.

Belarus' foreign debt grew $2.7 billion since year start or 19.5% - a historical maximum.

Belarusian Deputy Economy Minister Dzmitry Krutoi says the country will not take more loans to service older credits.