Belarus’ FinMin expects deficit-free budget in 2023
<p> MINSK, Dec 23 - PrimePress. The Finance Ministry of Belarus forecasts a deficit-free budget in 2023. The deficit in 2021 will reach 4.2 billion Belarusian rubles ($1.63 billion at the rate of National Bank of Belarus), Br1.9 billion ($740.5 million) in 2022, 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> Consolidated budget revenues are projected at Br39.7 billion ($15.47 billion) in 2021; Br41.7 billion ($16.25 billion) in 2022; Br45.1 billion ($17.57 billion) in 2023. Expenditures are forecasted at Br43.9 billion ($17.1 billion); Br43.6 billion ($16.99 billion) and Br45.1 billion ($17.57 billion), respectively. </p> <p> </p> <p> In pursuance of the decentralization of local budgets, in order to enhance their independence and ensure economic development of the regions, it is planned to fully transfer the environmental tax to the local budgets, double the charge rates for craft activities and agro-ecotourism services. Local councils will be empowered to double single tax rates for individual entrepreneurs, and up to three-fold for Minsk city. </p> <p> </p> <p> Additional income tax revenues are to be credited to the reserve funds of local administrations to raise salaries in the public sector. </p> <p> </p> <p> Regional budgets will receive subsidies from the republican and Minsk city budgets to reduce the gap between revenues of the Minsk city and regional budgets and between the living standards and the quality of life, says the Finance Ministry. End (Br2.5658/$1) </p> <p> </p>
2020-12-24
Primepress
Belarus’ FinMin expects deficit-free budget in 2023
MINSK, Dec 23 - PrimePress. The Finance Ministry of Belarus forecasts a deficit-free budget in 2023. The deficit in 2021 will reach 4.2 billion Belarusian rubles ($1.63 billion at the rate of National Bank of Belarus), Br1.9 billion ($740.5 million) in 2022, according to the guidelines for fiscal and tax policy of Belarus for 2021-2023 posted on the website of the Finance Ministry of Belarus.
Consolidated budget revenues are projected at Br39.7 billion ($15.47 billion) in 2021; Br41.7 billion ($16.25 billion) in 2022; Br45.1 billion ($17.57 billion) in 2023. Expenditures are forecasted at Br43.9 billion ($17.1 billion); Br43.6 billion ($16.99 billion) and Br45.1 billion ($17.57 billion), respectively.
In pursuance of the decentralization of local budgets, in order to enhance their independence and ensure economic development of the regions, it is planned to fully transfer the environmental tax to the local budgets, double the charge rates for craft activities and agro-ecotourism services. Local councils will be empowered to double single tax rates for individual entrepreneurs, and up to three-fold for Minsk city.
Additional income tax revenues are to be credited to the reserve funds of local administrations to raise salaries in the public sector.
Regional budgets will receive subsidies from the republican and Minsk city budgets to reduce the gap between revenues of the Minsk city and regional budgets and between the living standards and the quality of life, says the Finance Ministry. End (Br2.5658/$1)