The next year's central state budget is supposed to be Br18.2 billion or 106.1% as against 2016
In 2017 revenues of Belarus' consolidated budget are expected to reach Br30 billion, 7.3% up from 2016, BelTA learned from Belarusian Finance Minister Vladimir Amarin.
The next year's central state budget is supposed to be Br18.2 billion or 106.1% as against 2016. Most of the revenues will be generated by the value added tax (31.5%), income tax (15%), earnings from foreign economic activities (10.5%), and profit tax (9%).
The next year's state budget has been drafted bearing a conservative economic development scenario in mind. In particular, the document expects that oil will be traded at $35 per barrel, the U.S. dollar will be traded at RUB75 per $1, with the refinancing rate at 15-17% per annum.
In 2017 the budget policy will focus on balancing revenues and expenses of budgets of all levels, improving the effectiveness of budget spending by expanding the use of program and goal-oriented budgeting, on preserving the affordability and quality of public sector services, on stepping up social security for vulnerable population strata, on honoring the state budget's commitments to foreign and domestic creditors. The budget policy will also focus on keeping debt commitments at a safe level, including by lending to government programs under the government's oversight and without risking the financial balance.
