Average borrowing costs for businesses dropped by 45% over the last year

Average borrowing costs for businesses dropped by 45% over the last year, Kyrylo Shevchenko, Governor of the Central Bank, told reporters yesterday. “As for the cost of loans for businesses in the national currency, the rates decreased from 14.8% in December 2019 to 8.2% in December 2020,” he said. “For example, the cost of mortgage loans decreased from 19.6% in December 2019 to 12.1% in December 2020.”