MINSK, 25 June (BelTA) – The House of Representatives of the National Assembly approved the report on executing the central state budget in 2019 at a session on 25 June, BelTA has learned.
The report was presented by Finance Minister Yuri Seliverstov. He reminded that the last year's budget had been formed bearing in mind a conservative economy development scenario. As much as Br23.7 billion was earmarked as revenues, with expenses at Br22 billion and a surplus of Br1.7 billion. The surplus was to be used to pay off some of the state debt.
In practice the central state budget received Br24.3 billion in revenues in 2019 or 100.3% of the adjusted annual target. The revenues dropped by 0.5% from 2018 primarily due to a lower income from export customs duties on oil and oil products due to the so-called tax maneuver in Russia. The slower pace of Belarusian economy growth was also mentioned – 101.2% against the forecast of 104% (102.1% in accordance with the conservative scenario).
Taxes were still the main source of budget revenues, with their share at 77% of the total revenues. Although tax revenues from foreign trade operations dropped by 13.7% from 2018, the total tax revenues were 1.7% above the initial target, including thanks to a 3.5% increase in revenues from commodity taxes.
Expenses of the central state budget were financed to the tune of Br21.2 billion or 96.8% of the adjusted annual target.
On the whole, the central state budget execution went in accordance with the plans. It allowed ensuring its balance, social orientation, timeliness of interbudgetary support of regions and financial support of municipal authorities, fulfillment of obligations to repay part of the state debt.
In turn, Chairwoman of the Budget and Finance Commission of the House of Representatives of the National Assembly Lyudmila Nizhevich noted that Br4.3 billion was spent on supporting the social sphere and the social policy in 2019, or 97.7% of the adjusted target. As much as Br324.5 million was spent on paying out family capital. Some 15,500 citizens applied for this kind of support in 2019.
All the commitments to help young families and large ones repay preferential-rate loans were honored, with Br60 million spent on it. Expenses of special budget funds were financed to the tune of Br951.3 million or 97.6%.
Transactions to repay the external state debt were made in full and on time, with the equivalent of Br3.2 billion ($1.5 billion) spent on the purpose. As much as Br2.3 billion was spent on servicing the state debt.
The central state budget's surplus amounted to Br3.1 billion (while the target was Br2.3 billion) or 2.3% of the GDP. The money was spent on repaying some of the state debt. What was left was used to increase the remaining balance of the central state budget.