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.
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.
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.
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.
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.
The next year's key task is to restore economic growth, bolster the competitive ability of the Belarusian economy, and enabling conditions.
