Volozhin Region
Executive Committee

<p>The House of Representatives of the National Assembly of Belarus gave the second reading to the bill on the next year's central state budget on 19 December, BelTA has learned.</p>
<p>A conservative scenario for external conditions was used to put together the central state budget bill. Belarus' GDP growth rate is 101.2%, with the average annual inflation rate at 107.4%, refinancing rate at 11% per annum, oil price at $ 43 per barrel, and the U.S. dollar exchange rate at Br2.038 and RUB62.3.</p>
<p>Chairwoman of the Budget and Finance Commission Lyudmila Dobrynina noted that it is a realistic budget considering the conditions and priorities of the national economy has to work with. It is a matter of political, economic, and social interests, consider the MP.</p>
<p>Br20.485 billion and spend Br19.751 billion. The budget surplus is estimated at Br733.88 million and will be spent on repaying part of the state debt. The so-called top-priority expenses - salaries and transfers to the population, the servicing of the state debt, the acquisition of medications and food, payments for utilities, and transfers between budgets - account for 65% of the consolidated budget. As much as Br10.6 billion or a third of the consolidated budget will be spent on salaries.</p>
<p>In 2018, the tax burden will not exceed 25.5% of the GDP and will not go past the 26% threshold specified by the social and economic development guidelines for the current five-year term.</p>
<p>The next year's key task is to restore economic growth, bolster the competitive ability of the Belarusian economy, and enabling conditions.</p>