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21 September 2021, 16:58

Belarus' budget deficit projected at Br2.9-3 billion in 2022

Yuri Seliverstov
Yuri Seliverstov

elarus' budget deficit projected at Br2.9-3 billion in 2022

MINSK, 21 September (BelTA) – Belarus will run a budget deficit of Br2.9-3 billion in 2022, Finance Minister Yuri Seliverstov told reporters prior to the session of the Council of Ministers on 21 September, BelTA has learned.

“We will stick to the ‘no change' scenario drafted by the Economy Ministry. In this scenario all indicators are more moderate. Unfortunately, we cannot quickly reverse the budget deficit in the current situation. But we believe that next year the budget deficit will not exceed 1.6% of GDP (less than planned for this year). This amounts to approximately Br2.9-3 billion. We will propose to augment reserve funds in view of possible risks, including sanctions,” Yuri Seliverstov said.

Consolidated budget revenues are projected at around Br47 billion. As for social spending, salaries remain the biggest spending category, the minister said. “The salary fund for public-sector employees will be expanded by about 12-13%. This will allow increasing real salaries,” ​​he added.

More than 4.5% of GDP will be allocated for the healthcare system. Funds will be earmarked for vaccinations and bonuses to frontline healthcare workers.

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