Belarus republican budget deficit to reach Br2.9bn in 2022 - House of Representatives
<p> MINSK, Dec 10 - PrimePress. Belarus’ republican budget deficit will amount to Br2.9 billion ($1.144 billion at the exchange rate of the National Bank of Belarus) in 2022. This follows from the press statement made on 10 December by Lyudmila Nizhevich, Chairwoman of the Standing Committee on Budget and Finance of the House of Representatives of the National Assembly of Belarus. </p> <p> </p> <p> “National budget revenues are planned in the amount of Br27.8 billion ($10.966 billion, $1 = Br2.5349) with an estimated year-on-year increase of 6%. Budget spending is planned in the amount of Br30.7 billion ($12.11 billion), an increase of 4.4 percentage points," BelTA reports citing Nizhevich as saying. </p> <p> </p> <p> "Budget policy for 2022 has been shaped by the high uncertainty associated with the ongoing pandemic in the country, as well as the external pressures that are being exerted on Belarus. While planning the revenue part of the budget, along with the basic principles that we apply every year in the formation of the budget, we have assessed the risks, shortfall in income, taking into account the shortfall in budget funds from the tax maneuver, which continues in the current year. It also takes into account the reduction in revenue due to lower oil imports, changes in the structure of refining of petroleum products, as well as a decrease in exports of potash fertilizers,” she said. </p> <p> </p> <p> In her words, social expenditure accounts for about 45% of the consolidated budget. Other expenditures for the maintenance of public sector entities are budgeted at a minimum amount to ensure their essential activities. </p> <p> </p> <p> “Funds have been fully allocated for the repayment and servicing of the national debt. In addition, taking into account the impact of various factors on the economy, it is planned to create a reserve fund in the national budget in the amount of Br900m ($355m), which can also be used to increase salaries in order to reach the set parameters,” Nizhevich said. End </p> <p> </p>
2021-12-11
Primepress
Belarus republican budget deficit to reach Br2.9bn in 2022 - House of Representatives
MINSK, Dec 10 - PrimePress. Belarus’ republican budget deficit will amount to Br2.9 billion ($1.144 billion at the exchange rate of the National Bank of Belarus) in 2022. This follows from the press statement made on 10 December by Lyudmila Nizhevich, Chairwoman of the Standing Committee on Budget and Finance of the House of Representatives of the National Assembly of Belarus.
“National budget revenues are planned in the amount of Br27.8 billion ($10.966 billion, $1 = Br2.5349) with an estimated year-on-year increase of 6%. Budget spending is planned in the amount of Br30.7 billion ($12.11 billion), an increase of 4.4 percentage points," BelTA reports citing Nizhevich as saying.
"Budget policy for 2022 has been shaped by the high uncertainty associated with the ongoing pandemic in the country, as well as the external pressures that are being exerted on Belarus. While planning the revenue part of the budget, along with the basic principles that we apply every year in the formation of the budget, we have assessed the risks, shortfall in income, taking into account the shortfall in budget funds from the tax maneuver, which continues in the current year. It also takes into account the reduction in revenue due to lower oil imports, changes in the structure of refining of petroleum products, as well as a decrease in exports of potash fertilizers,” she said.
In her words, social expenditure accounts for about 45% of the consolidated budget. Other expenditures for the maintenance of public sector entities are budgeted at a minimum amount to ensure their essential activities.
“Funds have been fully allocated for the repayment and servicing of the national debt. In addition, taking into account the impact of various factors on the economy, it is planned to create a reserve fund in the national budget in the amount of Br900m ($355m), which can also be used to increase salaries in order to reach the set parameters,” Nizhevich said. End