A bill “On Approving the Report on the Implementation of the Central Budget for 2025” was approved at a regular meeting of the third session of the House of Representatives of the National Assembly of the eighth convocation, BelTA has learned.
According to Vasily Panasyuk, Chairman of the House of Representatives’ Standing Commission on Budget and Finance, the central budget for last year was executed against a backdrop of challenging economic conditions. These were primarily linked to slowing economic growth, declining industrial output, coupled with rising household incomes and, consequently, a somewhat increased import burden. Nevertheless, thanks to new additional tax policy mechanisms developed and adopted by the House of Representatives, all revenue sources of last year’s budget were secured in aggregate.
Revenues exceeded Br50 billion after adjustments, while expenditures surpassed Br52 billion, leaving a deficit of Br2 billion.
“Initially, the budget deficit was planned at Br4.7 billion, and later at Br3.5 billion under the precise version. Looking at the actual execution, we see that the budget deficit amounted to Br2 billion,” the deputy said.
“This reflects the dynamics and manageability of the budget deficit, with the possibility of covering it through carryover balances from previous periods,” the deputy said.
Regarding expenditures, Vasily Panasyuk noted that the share of social spending is substantial. The increase was primarily driven by an 11% increase in wages for public sector employees. At the same time, he clarified, wages in the public sector still lag 24% behind the average level in industry.
Social spending accounted for 17% of total expenditure, he remarked. “This includes healthcare, education, social policy measures, support for children and young people, family capital, and a number of other items. Expenditures on physical culture, sports, and the mass media have increased by 28% compared to the plan, which is quite remarkable,” the deputy noted.
He also observed that the government has fully met its social guarantees, while also having the ability to support the real sector of the economy using budget funds. This support took the form of a nearly 22% increase in such allocations, amounting to more than Br10 billion in absolute terms.
Thus, the parliamentarian concluded, against the backdrop of challenging economic conditions, while meeting all of the state’s social obligations, and during a peak period of public debt repayments, serious attention was also paid to national security issues. This demonstrates that this document, and the state’s financial policy as a whole, fully implements all priorities, namely the social security provision, national security, and support for the real sector of the economy.
According to the House of Representatives, under the law “On the Central Budget for 2025,” the central budget was originally approved for expenditures in the amount of Br50.3 billion, based on projected revenues of Br45.8 billion, with a deficit of Br4.5 billion.
Following amendments introduced during 2025, the updated central budget figures were the following: expenditures – Br53.4 billion, revenues – Br49.5 billion, budget deficit – Br3.8 billion.
Over the course of 2025, revenues totaling Br50.4 billion were collected for the central budget, or 101.8% of the updated annual target.
In 2025, the primary source of central budget revenues was tax income, which accounted for 69.7% of all revenues (non-tax revenues made up 15.2%, and gratuitous transfers – 15.1%).
A number of measures were implemented to attract additional revenues. These included increasing quotas for the production of certain excisable goods, introducing taxation on token transactions, and establishing a registry of irregular carriers for taxi services.
Total central budget expenditures for 2025 amounted to Br52.4 billion, or 98.2% of the updated annual target.
Central budget expenditures on financing nation-wide activities came to Br23.1 billion, or 97.9% of the updated annual target.
