Belarus’ budget deficit expected at Br2.9-3bn in 2022 – FinMin

<p> MINSK, Sep 21 - PrimePress. Belarus is expected to end up with a budget deficit of Br2.9-3 billion ($1.6-2bn at the NBB rate) in 2022, Finance Minister Yuri Seliverstov told reporters on 21 September. </p> <p>   </p> <p> “We will stick to the ‘no change' scenario drafted by the Economy Ministry. In this scenario all indicators are more moderate. Unfortunately, we cannot quickly reverse the budget deficit in the current situation. But we believe that next year the budget deficit will not exceed 1.6% of GDP (less than planned for this year). This amounts to approximately Br2.9-3 billion. We will propose to augment reserve funds in view of possible risks, including sanctions,” Seliverstov said. </p> <p>   </p> <p> In his words, consolidated budget revenues are projected at around Br47 billion. As for social spending, salaries remain the biggest spending category, the minister said. </p> <p>   </p> <p> “The salary fund for public-sector employees will be expanded by about 12-13%. This will allow increasing real salaries,” ​​he added. </p> <p>   </p> <p> More than 4.5% of GDP will be allocated for the healthcare system. Funds will be earmarked for vaccinations and bonuses to frontline healthcare workers. </p> <p>   </p> <p> As previously reported, in 2020 Belarus’ budget deficit amounted to Br1.9 billion ($730.7 million at the rate of National Bank of Belarus) or 1.3% of GDP. Deputy Finance Minister of Belarus Olga Tarasevich informed in March 2021: “Taking into account the budget parameters for 2021, the national budget deficit is planned at Br4 billion ($1.54 billion) or 2.5% of GDP. If we take into account the adopted acts to support certain enterprises, the finalized budget deficit is Br5.6 billion ($2.15 billion) or 3.5% of GDP. The deficit is planned to be financed by budget balances and new government borrowings”. End </p> <p>   </p> <p>   </p>

2021-09-22

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