Belarus reports Br1.424bn budget deficit in Jan-Jul 2020
<p> MINSK, Sep 1 – PrimePress. Belarus’ Finance Ministry posted a republican budget deficit of 1.424 billion Belarusian rubles (Br) (U.S. $536.4 million at the official rate of the National Bank of Belarus), or 1.8% of the country’s GDP in January-Jul 2020, the Finance Ministry said in a release. </p> <p> </p> <p> The republican budget indicates spending and revenues of the central administration, whereas the consolidated budget also includes local budgets. </p> <p> </p> <p> Republican budget revenues reached Br12.838 billion ($4.836 billion), 50.9% of the annual target for 2020; expenditures - Br14.261bn ($5.372bn), or 52.1% of the annual target. </p> <p> </p> <p> Revenues of the state administration budget (republican budget, local budgets and Welfare Ministry’s social security fund (SSF), Telecom Ministry’s universal service fund, civil aviation fund) totaled Br29.775 billion in Jan-Jul 2020 ($11.216 billion), 56.2% of the annual plan; expenditures – Br31.108 billion ($11.718 billion, 55.9%), deficit – Br1.333 billion ($502.1 million), or 1.7% of GDP in Jan-Jul 2020. </p> <p> </p> <p> Revenues from the value-added tax amounted to Br7.641 billion ($2.89 billion, 62.2% of the year target), from the profit tax – Br1.493 billion ($562.4 million, 36.3%), excises – Br1.684 billion ($634.3 million, 55.3%), from foreign economic activities – Br1.93 billion ($727 million), 40.3% of the annual target. </p> <p> </p> <p> Revenues of the Labor and Welfare Ministry’s social security fund in Jan-Jul 2020 stood at Br10.205 billion ($3.844 billion, 59.3%), expenditures – Br10.093bn ($3.802bn, 59.5%), surplus – Br112 million ($42.2m). </p> <p> </p> <p> Tax arrears stood at Br184.2 million ($69.4m) as of Aug 1, 2020. </p> <p> </p> <p> As reported, the republican budget surplus in 2019 totaled Br3.229 billion ($1.219bn), 2.5% of GDP. Revenues – Br24.315 billion ($9.156bn), expenditures – Br21.087 billion ($7.943bn). Revenues of the central administration in 2019 amounted to Br53.985 billion ($20.334bn); expenditures – Br50.501 billion ($19bn); surplus – Br3.485 billion ($1.313bn), or 2.6% of GDP. End (Br2.6631/$1) </p>
2020-09-02
Primepress
Belarus reports Br1.424bn budget deficit in Jan-Jul 2020
MINSK, Sep 1 – PrimePress. Belarus’ Finance Ministry posted a republican budget deficit of 1.424 billion Belarusian rubles (Br) (U.S. $536.4 million at the official rate of the National Bank of Belarus), or 1.8% of the country’s GDP in January-Jul 2020, the Finance Ministry said in a release.
The republican budget indicates spending and revenues of the central administration, whereas the consolidated budget also includes local budgets.
Republican budget revenues reached Br12.838 billion ($4.836 billion), 50.9% of the annual target for 2020; expenditures - Br14.261bn ($5.372bn), or 52.1% of the annual target.
Revenues of the state administration budget (republican budget, local budgets and Welfare Ministry’s social security fund (SSF), Telecom Ministry’s universal service fund, civil aviation fund) totaled Br29.775 billion in Jan-Jul 2020 ($11.216 billion), 56.2% of the annual plan; expenditures – Br31.108 billion ($11.718 billion, 55.9%), deficit – Br1.333 billion ($502.1 million), or 1.7% of GDP in Jan-Jul 2020.
Revenues from the value-added tax amounted to Br7.641 billion ($2.89 billion, 62.2% of the year target), from the profit tax – Br1.493 billion ($562.4 million, 36.3%), excises – Br1.684 billion ($634.3 million, 55.3%), from foreign economic activities – Br1.93 billion ($727 million), 40.3% of the annual target.
Revenues of the Labor and Welfare Ministry’s social security fund in Jan-Jul 2020 stood at Br10.205 billion ($3.844 billion, 59.3%), expenditures – Br10.093bn ($3.802bn, 59.5%), surplus – Br112 million ($42.2m).
Tax arrears stood at Br184.2 million ($69.4m) as of Aug 1, 2020.
As reported, the republican budget surplus in 2019 totaled Br3.229 billion ($1.219bn), 2.5% of GDP. Revenues – Br24.315 billion ($9.156bn), expenditures – Br21.087 billion ($7.943bn). Revenues of the central administration in 2019 amounted to Br53.985 billion ($20.334bn); expenditures – Br50.501 billion ($19bn); surplus – Br3.485 billion ($1.313bn), or 2.6% of GDP. End (Br2.6631/$1)