Belarus’ 2021 budget expenditure calculated in view of wage rises – FinMin
<p> MINSK, Dec 23 - PrimePress. Belarus’ national budget expenditure in 2021 are calculated in view of further wage rises, according to the guidelines for fiscal and tax policy of Belarus for 2021-2023 posted on the website of the Finance Ministry of Belarus. </p> <p> </p> <p> Salaries of in the public sector are expected to rise by 5.4% in average annual terms against 2020. Public sector payroll will be increased in two stages: on January 1, 2021 with a base salary rate of Br195 ($76 at the exchange rate of the National Bank of Belarus), and after that, as the target performance is being achieved. </p> <p> </p> <p> The minimum salary will rise from Br375 ($146.2 million) to Br400 (USD 156). The public sector payroll (including deductions) in 2021 is estimated at Br16.5 billion ($6.4 billion). </p> <p> </p> <p> In 2021, the Social Security Fund will receive around Br1.6 billion ($623.6 million) in subventions, of which Br599 million ($233.5 million, up 70% against 2020) to balance the Fund’s budget; Br988 million ($385 million) – to cover noninsurance expenses of the Fund (pensions and allowances). </p> <p> </p> <p> Allowances to families with children are estimated at about Br342 million ($133.3 million) in 2021. </p> <p> </p> <p> State support for housing construction for those in need of better housing will amount to Br1 billion ($389.7 million). </p> <p> </p> <p> As previously reported, the House of Representatives of the National Assembly of Belarus approved on December 18 the draft budget for 2021 with a deficit of Br4.047 billion ($1.6 billion at the rate of National Bank of Belarus). In 2020, the budget deficit is expected at Br2.6 billion ($1 billion). The budget deficit in 2021 will likely increase by 56% year on year. National budget revenues in 2021 are planned at Br23.304 billion ($9.3 billion); expenditure – Br27.351 billion ($10.9 billion). End (Br2.5658/$1) </p>
2020-12-24
Primepress
Belarus’ 2021 budget expenditure calculated in view of wage rises – FinMin
MINSK, Dec 23 - PrimePress. Belarus’ national budget expenditure in 2021 are calculated in view of further wage rises, according to the guidelines for fiscal and tax policy of Belarus for 2021-2023 posted on the website of the Finance Ministry of Belarus.
Salaries of in the public sector are expected to rise by 5.4% in average annual terms against 2020. Public sector payroll will be increased in two stages: on January 1, 2021 with a base salary rate of Br195 ($76 at the exchange rate of the National Bank of Belarus), and after that, as the target performance is being achieved.
The minimum salary will rise from Br375 ($146.2 million) to Br400 (USD 156). The public sector payroll (including deductions) in 2021 is estimated at Br16.5 billion ($6.4 billion).
In 2021, the Social Security Fund will receive around Br1.6 billion ($623.6 million) in subventions, of which Br599 million ($233.5 million, up 70% against 2020) to balance the Fund’s budget; Br988 million ($385 million) – to cover noninsurance expenses of the Fund (pensions and allowances).
Allowances to families with children are estimated at about Br342 million ($133.3 million) in 2021.
State support for housing construction for those in need of better housing will amount to Br1 billion ($389.7 million).
As previously reported, the House of Representatives of the National Assembly of Belarus approved on December 18 the draft budget for 2021 with a deficit of Br4.047 billion ($1.6 billion at the rate of National Bank of Belarus). In 2020, the budget deficit is expected at Br2.6 billion ($1 billion). The budget deficit in 2021 will likely increase by 56% year on year. National budget revenues in 2021 are planned at Br23.304 billion ($9.3 billion); expenditure – Br27.351 billion ($10.9 billion). End (Br2.5658/$1)