Deficit of Belarus' central state budget expected to be near Br2.6bn in 2020

Yelena Pechen said: “If we talk about this year, we expect we will honor all our social commitments to citizens. All the debt commitments will be executed on time and in full. According to preliminary estimates, the deficit of the central state budget will not exceed 2% of the GDP and will be close to Br2.6 billion. Bear in mind that substantial budget resources have been appropriated this year in order to fight the pandemic. In particular, direct budget spending has totaled Br450 million so far. Support has been rendered to the real sector of the economy as well.”

The next year's state budget will remain socially oriented. “Raising living standards of the citizens is the priority. The government has already decided to raise the basic pay rate from Br185 to Br195. An extra Br50 million will be appropriated next year in order to raise salaries of underpaid citizens. Medics will get the necessary volume of bonuses for working in conditions of the coronavirus infection. Public sector salaries will account for a total of 38% of the budget's total spending,” the official noted.

Plans have been made to spend Br342 million on the family capital program. Over Br1 billion will be spent on helping large families build their homes. “The next year's budget will have a deficit. According to preliminary estimates, it will not exceed 3% of the GDP,” Yelena Pechen stressed.

In her words, budgets of districts are being formed in line with budget laws. “The Budget Code will not be adjusted this year. This is why budgets of districts will be formed according to the established procedure and in line with the decisions that will be made by the oblast councils of deputies among other government agencies to distribute sums between oblasts and districts,” the deputy finance minister added.