Tatarinovich: GDP growth over past five years helped maintain positive budget revenue trend

MINSK, 12 March (BelTA) - Strong GDP performance over the past five years helped maintain steady growth in budget revenues, Belarusian Finance Minister Vladislav Tatarinovich said at the ministry’s board meeting on the results of Belarus’ budget execution for 2025 and tasks of financial authorities for 2026. The meeting was attended by Prime Minister Aleksandr Turchin, BelTA has learned.

“2025 was the final year of the five-year cycle. We worked under conditions that cannot be called simple, but to which the financial system as a whole has adapted,” Vladislav Tatarinovich said.

According to him, the country’s GDP grew by 1.3% in 2025, and by 7.3% overall over the five-year period - this, among other things, made it possible to maintain positive budget revenue dynamics.

“Behind the outwardly stable budget execution lie deep processes of transformation. In recent years, we have consistently moved away from so-called commodity revenues towards revenues generated by the domestic economy. These are fundamental changes in the quality of the revenue base,” he said.

Compared to 2020, consolidated budget revenues increased from Br39 billion to Br85 billion in 2025. “The increase was 2.2 times. Consolidated budget expenditures increased to Br87 billion,” the minister cited figures.

Vladislav Tatarinovich also spoke about the key approaches that defined budget policy over the past five years.

First, maintaining a competitive level of tax burden. “The level of tax centralization relative to GDP throughout the five-year period did not exceed 25%,” he emphasized.

Second, concentrating resources on priorities. “We did not scatter funds, but rather directed them as much as possible toward key tasks: the unconditional fulfillment of social obligations, ensuring national security, and supporting system-forming enterprises and industries during the period of adaptation to new conditions,” Vladislav Tatarinovich said.

The third approach lies in flexibility and responsiveness. “Since 2022, all available instruments for supporting production and foreign economic activity have been utilized, together with a broad range of anti-sanction measures,” he said.

Key among these was the head of state’s decree No. 93, which was consistently updated as the situation changed. “The result of this work is that the economy and finances have held up,” the minister summarized.