Belarus’ budget to be Br3-4bn short in 2020 – Finance Ministry
<p> MINSK, Aug 25 - PrimePress. The republican budget of Belarus will be Br3-4 billion ($1.2-1.6 billion at the rate of the National Bank of Belarus) short in 2020, Finance Minister of Belarus Yuri Seliverstov told reporters on August 25. </p> <p> </p> <p> “The shortfall of republican budget revenues is expected to be around 3-4 billion Belarusian rubles. Local budget surpluses are run stably. Compared with the last year, the percentage of income received is the same over the first seven months. This is not bad, because the main social obligations–wages and funding for social institutions–are financed from local budgets. The situation is quite understandable and manageable,” BelTA state newswire quotes Seliverstov as saying. </p> <p> </p> <p> According to the minister, budget problems stem from the falling revenues of large enterprises and a reduction in the export of oil products early this year. </p> <p> </p> <p> Seliverstov said earlier that the Finance Ministry expected the receipts from the income tax and dividends from state-owned companies to be Br2 billion ($780 million) short. The budget deficit may reach Br5 billion ($2 billion) by the end of 2020. In this situation, the Finance Ministry is going to use the reserves in Belarusian rubles of the surpluses accumulated in the previous years to fulfill budgetary obligations. End (Br2.5554/$1) </p>
2020-08-26
Primepress
MINSK, Aug 25 - PrimePress. The republican budget of Belarus will be Br3-4 billion ($1.2-1.6 billion at the rate of the National Bank of Belarus) short in 2020, Finance Minister of Belarus Yuri Seliverstov told reporters on August 25.
“The shortfall of republican budget revenues is expected to be around 3-4 billion Belarusian rubles. Local budget surpluses are run stably. Compared with the last year, the percentage of income received is the same over the first seven months. This is not bad, because the main social obligations–wages and funding for social institutions–are financed from local budgets. The situation is quite understandable and manageable,” BelTA state newswire quotes Seliverstov as saying.
According to the minister, budget problems stem from the falling revenues of large enterprises and a reduction in the export of oil products early this year.
Seliverstov said earlier that the Finance Ministry expected the receipts from the income tax and dividends from state-owned companies to be Br2 billion ($780 million) short. The budget deficit may reach Br5 billion ($2 billion) by the end of 2020. In this situation, the Finance Ministry is going to use the reserves in Belarusian rubles of the surpluses accumulated in the previous years to fulfill budgetary obligations. End (Br2.5554/$1)