MINSK, 17 December (BelTA) – The central state budget for the year 2019 has been compiled bearing in mind the most unfavorable outcome of negotiations on the possible compensation for changes in the taxation of the Russian oil industry, BelTA learned from Belarusian Finance Minister Maksim Yermolovich on 17 December.
According to the source, the draft budget does not include any revenues in the form of compensations from Russia. In other words, the budget takes into account losses caused by the adjusted taxation scheme in Russia. They are estimated at over Br600 million in 2019. Respectively, the budget is already adapted to the most unfavorable outcome of the Belarusian-Russian talks on the compensation.
If the worst happens, Belarus' budget will be executed as it is. “In the state we are presenting it before the parliament today. There are no risks from the point of view of the social sphere, public sector salaries, and the implementation of government programs,” added Maksim Yermolovich.
If Belarus gets some compensation, the money will be transferred to the reserve fund. Its spending will be authorized by the head of state to accomplish certain tasks. “They are well-known: increasing the prosperity of Belarus citizens, implementing the most important infrastructure projects, and paying off the state debt,” said the official.
According to the source, the execution of the state budget in 2019 will not be affected by the outcome of the Belarusian-Russian talks on the tax maneuver compensation. The outcome will determine how fast the tasks set by the head of state will be achieved.
