This is expected to create a wave of rate reduction in the whole banking system, in order to assist businesses and the economy in general. Sectors that are prioritised for lending interest rates reduction include agriculture and rural development, exports, small and medium sized enterprises, supporting industry, high tech, and startup. With the drop of 5% rate and the economy's overall debt of about 219.5 billion US dollars, the lending interest rate reduction of the banking system will save over 1 billion US dollars for the economy.
