Belarus Domestic Credit
Domestic credit provided by financial sector as % of GDP FS.AST.DOMS.GD.ZS
Belarus's domestic credit was 40.72% in 2021, ranked 13th globally. This represents a 9.4% decrease from 2020. Data from World Bank, covering 2007–2021.
Overview
Belarus's domestic credit stood at 40.72% in 2021, a decline of +4.21% from 2020. Belarus ranked 13th globally.
Belarus’ domestic credit to the private sector has risen markedly over the 15‑year span from 2007 to 2021, climbing from a low of 26.84 % of GDP in the all‑time trough of 2007 to a peak of 49.78 % in 2015 before settling at 40.72 % in 2021, a level that places the country 13th globally. This progression reflects a sustained expansion of bank lending and financial intermediation, outpacing many regional peers; for example, Ukraine recorded 41.45 % and Kazakhstan 39.04 % in the same year. The post‑2015 decline from the 49.78 % apex suggests a modest cooling of credit growth, possibly linked to tighter monetary conditions and external trade pressures. Nevertheless, the 2021 figure remains well above the 2007 baseline, indicating that the credit market retains considerable depth. Continued macro‑economic stability and reforms that improve loan‑to‑value standards could further reinforce the upward trajectory, while heightened inflation or fiscal strain might reverse it.
Data & projection
| Year | Domestic Credit | YoY change | Rank |
|---|---|---|---|
| 2021 | 40.72% | −4.21% | #13 |
| 2020 | 44.94% | +5.42% | #12 |
| 2019 | 39.52% | −0.95% | #13 |
| 2018 | 40.46% | −1.27% | #11 |
| 2017 | 41.73% | −5.31% | #15 |
| 2016 | 47.04% | −2.74% | #16 |
| 2015 | 49.78% | +8.48% | #20 |
| 2014 | 41.30% | +3.38% | #11 |
| 2013 | 37.92% | +6.89% | #10 |
| 2012 | 31.03% | +0.28% | #10 |
| 2011 | 30.75% | −12.97% | #12 |
| 2010 | 43.72% | +10.77% | #19 |
| 2009 | 32.95% | +0.27% | #13 |
| 2008 | 32.67% | +5.84% | #11 |
| 2007 | 26.84% | – | #10 |
Detected Pattern
Analysis
Belarus matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw domestic credit improve within 24 months. View full analysis →
Frequently Asked Questions
Belarus's domestic credit was 40.72% in 2021. Ranked 13th globally. This represents a 9.4% decrease from the previous year.
Belarus's domestic credit peaked at 49.78% in 2015.
The lowest domestic credit in Belarus was 26.84% in 2007.
Belarus ranks 13th globally in domestic credit as of 2021.
The World Bank indicator code is FS.AST.DOMS.GD.ZS. Data sourced from World Bank.
The domestic credit of Belarus in 2021 was 40.72%. This ranks 13th in the world.
Cite this page
@misc{historysaid_belarus_domestic-credit,
title = {Belarus Domestic Credit},
url = {https://historysaid.com/belarus/domestic-credit/},
publisher = {HistorySaid},
year = {2026}
}