Moody’s retained negative outlook on Belarus’s banking system

Moody’s Investors Service retained its negative outlook on Belarus’s banking system.

Assets will deteriorate further and lenders will become more vulnerable as the country’s ability to support the economy declines.

Moody’s expect growth of Belarusian gross domestic product to slow to 0.5 percent this year from an estimated 5.3 percent in 2011 with inflation remaining “excessively high” at 30 percent, the rating company said in its report published today.