Belarus reports Br1.851bn budget deficit in Jan-Sep 2020
<p> MINSK, Oct 30 – PrimePress. Belarus’ Finance Ministry posted a republican budget deficit of 1.851 billion Belarusian rubles (Br) (U.S. $705.5 million at the official rate of the National Bank of Belarus), or 1.7% of the country’s GDP in January-September 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 Br16.269 billion ($6.2 billion), 64.1% of the annual target for 2020; expenditures – Br18.12bn ($6.9bn), or 65.7% 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) totalled Br37.237 billion in Jan-Sep 2020 ($14.2 billion), 70.1% of the annual plan; expenditures – Br39.192 billion ($14.9 billion, 69.9%), deficit – Br1.955 billion ($745.2 million), or 1.8% of GDP in Jan-Sep 2020. </p> <p> </p> <p> Revenues from the value-added tax amounted to Br9.154 billion ($3.5 billion, 74% of the year target), from the profit tax – Br1.504 billion ($577.1 million, 40.2%), excises – Br2.273 billion ($866.4 million, 72%), from foreign economic activities – Br2.728 billion ($1.04 billion), 57% of the annual target. </p> <p> </p> <p> Revenues of the Labour and Welfare Ministry’s social security fund in Jan-Sep 2020 stood at Br12.837 billion ($4.9 billion, 74.6%), expenditures – Br12.683bn ($4.8bn, 74%), surplus – Br154 million ($58.7m). </p> <p> </p> <p> Tax arrears stood at Br134.8 million ($51.4m) as of Oct 1, 2020. </p> <p> </p> <p> As previously reported, the republican budget surplus in 2019 totalled Br3.229 billion ($1.223bn), 2.5% of GDP. Revenues – Br24.315 billion ($9.21bn), expenditures – Br21.087 billion ($7.99bn). Revenues of the central administration in 2019 amounted to Br53.985 billion ($20.447bn); expenditures – Br50.501 billion ($19.127bn); surplus – Br3.485 billion ($1.32bn), or 2.6% of GDP. End </p>
2020-10-31
Primepress
Belarus reports Br1.851bn budget deficit in Jan-Sep 2020
MINSK, Oct 30 – PrimePress. Belarus’ Finance Ministry posted a republican budget deficit of 1.851 billion Belarusian rubles (Br) (U.S. $705.5 million at the official rate of the National Bank of Belarus), or 1.7% of the country’s GDP in January-September 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 Br16.269 billion ($6.2 billion), 64.1% of the annual target for 2020; expenditures – Br18.12bn ($6.9bn), or 65.7% 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) totalled Br37.237 billion in Jan-Sep 2020 ($14.2 billion), 70.1% of the annual plan; expenditures – Br39.192 billion ($14.9 billion, 69.9%), deficit – Br1.955 billion ($745.2 million), or 1.8% of GDP in Jan-Sep 2020.
Revenues from the value-added tax amounted to Br9.154 billion ($3.5 billion, 74% of the year target), from the profit tax – Br1.504 billion ($577.1 million, 40.2%), excises – Br2.273 billion ($866.4 million, 72%), from foreign economic activities – Br2.728 billion ($1.04 billion), 57% of the annual target.
Revenues of the Labour and Welfare Ministry’s social security fund in Jan-Sep 2020 stood at Br12.837 billion ($4.9 billion, 74.6%), expenditures – Br12.683bn ($4.8bn, 74%), surplus – Br154 million ($58.7m).
Tax arrears stood at Br134.8 million ($51.4m) as of Oct 1, 2020.
As previously reported, the republican budget surplus in 2019 totalled Br3.229 billion ($1.223bn), 2.5% of GDP. Revenues – Br24.315 billion ($9.21bn), expenditures – Br21.087 billion ($7.99bn). Revenues of the central administration in 2019 amounted to Br53.985 billion ($20.447bn); expenditures – Br50.501 billion ($19.127bn); surplus – Br3.485 billion ($1.32bn), or 2.6% of GDP. End