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14 December 2021, 09:08

Belarus' MPs discuss budgeting, tax policy for 2022

MINSK, 14 December (BelTA) – The Standing Committee for Economy, Budget and Finances of the Council of the Republic, the upper house of the Belarusian parliament, held a videoconference to discuss key approaches to budgeting and taxation for 2022 amidst new economic challenges, BelTA has learned.

“The consolidated budget revenues are projected at Br47.2 billion, the central budget revenues at Br27.8 billion. Consolidated budget expenditures for the coming year are projected at Br50.4 billion, while the central budget expenditures at Br30.7 billion. Thus, the deficit is expected to make Br3 billion, which is less than the projections for the current year,” Finance Minister Yuri Seliverstov said.

Yuri Seliverstov
Yuri Seliverstov

All social commitments of the state will be honored in 2022 despite the projected budget deficit.

“Like before, next year the bulk of budgetary resources will be used to fulfill the key objectives of the social and economic development program for the five-year period. The priority objectives include increasing the living standards of people. Salaries for public sectors employees will account for 38% of the budget expenditures, or Br17.8 billion in nominal terms,” the minister said.

The government will keep supporting families with children, large families, and low-income households. Subsidized housing programs and infrastructure improvement projects will continue.

“All other expenditures were optimized as much as possible. Operating costs take into account inflation and utility tariffs,” Yuri Seliverstov added.

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