Upper chamber of Belarus parliament approves budget for 2017

Upper chamber of Belarus parliament approves budget for 2017

On October 6, Belarusian senators approved the draft budget for 2017. The budget retains social orientation and takes into account Belarus' loan obligations. 

The thickness of the 'national purse' will be the same as in 2016, while the consolidated budget will grow by 6%.

The tax burden on the economy will fall. The 2017 budget is conservative, while its profitability has been calculated on the basis of oil prices at $35 per barrel.

Vladimir Amarin, Minister of Finance of the Republic of Belarus:
For us the main thing is to preserve macroeconomic stability and create conditions for further economic growth. The budget is balanced, realistic, consistent when it comes to carrying out a balanced budget policy. It ensures that resources are concentrated in key areas of social and economic development of the country.

In total, the senators considered 20 issues on the last day of the final session of the Council of the Republic of the 5th convocation. The upper chamber of Belarus parliament approved changes in the Tax Code, the ratification of agreements on visa-free regime between Belarus and Brazil and a joint action of the CIS countries in emergency situations.