Fiscal policy had stimulating effect on Belarus economy in Q1- National Bank
<p> MINSK, Apr 30 – PrimePress. Fiscal policy as a whole had a stimulating effect on the economy of Belarus in Q1 2021, the National Bank of Belarus (NBB) said in a report on the dynamics and factors of changes in consumer prices and tariffs in the first quarter of 2021. </p> <p> </p> <p> “In Q1 2021, the consolidated budget was executed with a deficit of Br1.7 billion ($663.65 million at the NBB rate) as a result of a more significant increase in expenditures against revenues. The increase in consolidated budget expenditures helped reduce the contraction of domestic demand. The main contribution to the dynamics of domestic demand on the fiscal side came from a 1.9-fold increase in capital expenditure in real terms. Also, the continued growth of real expenditures of the budget and the social security fund for welfare payments (pensions, benefits, etc.) limited the decline in domestic demand,” says the report. End </p>
2021-05-01
Primepress
Fiscal policy had stimulating effect on Belarus economy in Q1- National Bank
MINSK, Apr 30 – PrimePress. Fiscal policy as a whole had a stimulating effect on the economy of Belarus in Q1 2021, the National Bank of Belarus (NBB) said in a report on the dynamics and factors of changes in consumer prices and tariffs in the first quarter of 2021.
“In Q1 2021, the consolidated budget was executed with a deficit of Br1.7 billion ($663.65 million at the NBB rate) as a result of a more significant increase in expenditures against revenues. The increase in consolidated budget expenditures helped reduce the contraction of domestic demand. The main contribution to the dynamics of domestic demand on the fiscal side came from a 1.9-fold increase in capital expenditure in real terms. Also, the continued growth of real expenditures of the budget and the social security fund for welfare payments (pensions, benefits, etc.) limited the decline in domestic demand,” says the report. End