MINSK, 18 December (BelTA) – Belarus plans to spend Br4.9 billion to repay the state debt in 2021, Belarusian First Deputy Finance Minister Dmitry Kiyko said at an expanded-participation session of the Budget and Finance Commission of the House of Representatives of the National Assembly on 17 December, BelTA has learned.
"In 2021, we are planning to spend Br4.9 billion to repay the state debt, which is Br1.4 billion less than this year. Some 97% of this sum (about $1.9 billion) accounts for the foreign currency debt," said Dmitry Kiyko.
Despite the reduction in the sum needed to repay the state debt the cost of its servicing will increase by almost Br350 million and will amount to Br3.1 billion. These expenditures are included in the overall budget expenditures.
"Thus, more than 11% of the budget revenues will be used to service the debt," the first deputy minister said.
Plans are in place to raise up to $1 billion, including $200 million in the domestic financial market and $775 million in foreign financial markets.
"We are also planning to use the unused balance of the budget, which isprojected in the amount of about $740 million thanked to the above-target borrowings, to repay part of the state debt in 2021," Dmitry Kiyko added.
The level of the state debt to GDP is projected at 38.3% at the end of 2021.
