National Bank suggest that companies seek cheap loans outside banking system

As of September 1^st, 2016 Belarus established an Encumbered Assets Registry, and started the transition to International Financial Reporting Standards, which should increase the transparency at enterprises vis-à-vis foreign creditors, and should bring other financial resources outside the banking sector. The expected discount rate in 2017 is projected at 15%-17% (against current 18%), which would not make loans substantially cheaper for enterprises. Enterprises may boost activity on the domestic market by selling assets and bonds to private persons. The Belarusian authorities are likely to lift the ban on asset sales for some loss-making enterprises and some assets may be put up on the international market. Enterprises, which will be unable to raise additional funds or to restructure current debt, will be subjected to compulsory rehabilitation procedure by Belarusian banks.