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Belarus' budget

14.03.2017

Deputy of Belarusian National Assembly about Decree No3 On Preventing Freeloading Practices
Belarusian MP: We are not yet ready for market economy Deputy of the House of Representatives of the Belarusian National Assembly Valery Borodenya answered the questions about Decree No3 On Preventing Freeloading Practices. This legal act aims to engage able-bodied persons in labor and to ensure that they take part in the financing of public spending. Valery, you took part in several panels where the cases of some people affected by the Decree were examined. In which situations can this legal act be executed? And why isn’t this document working properly?

19.12.2016

Belarus President warns about rational spending of national budget
Belarus President warns about rational spending of national budget The geography of today's issue is extensive. There will be Spain and even its former colony in South America. But overseas themes, with all the exotic nature and the importance, only complement the picture of the world. The main focus is on the events in Belarus, the events with the participation of the President.

07.10.2016

Belarus' upper chamber of parliament finishes last working session fruitfully
Belarus' upper chamber of parliament finishes last working session fruitfully The budget for 2017 and the tax code were approved on October 6 at the final session of the 5th convocation of the Council of the Republic, which is the upper chamber of the Belarus parliament. The main financial document was adopted taking into account social orientation and considers the credit obligations of Belarus. The thickness of the national purse remains the same as in 2016, while the tax burden on the economy will fall, with spending on education and health care set to grow. Increase in salaries and pensions is expected too.

06.10.2016

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.
Salaries in Belarus to increase by 9% in 2017
Salaries in Belarus to increase by 9% in 2017 Belarus' draft budget for 2017 has been adopted. In the second reading, the absolute majority of deputies voted for the draft of the main financial document. It will retain social orientation. One-third part of the budget will be earmarked for state programs: in education - for the development of innovative approaches, while in health care focus will be made on affordability and quality. Payroll fund will increase by 9%, while labor pensions will be increased twice.

05.10.2016

Half of budget expenses to be earmarked for social policy in Belarus in 2017
Half of Belarus' budget expenses to be earmarked for social policy in 2017 Representatives of the House of Representatives have adopted the draft budget for 2017 in the second reading. It was approved by a majority vote.  State revenues were approved in the amount of more than BYN18 billion, expenses over BYN16 billion. Over 40% of planned revenues will come from value-added tax.
What is Belarus' main socio-economic development goal for 2017?
What is Belarus' main socio-economic development goal for 2017? Growth of competitiveness of the economy is the main goal for the next year. The President of Belarus signed a decree on the socio-economic development for 2017. Ensuring macroeconomic balance, financial recovery of the real sector companies, the growth of labor productivity, creation of new jobs - these tasks are named the key ones in the document. The GDP in the coming year is projected at 101.7%. On 4 October, the President, in a decree, approved the monetary policy guidelines for 2017. It will maintain continuity and facilitate

04.10.2016

Salary of Belarus' public sector employees to increase by 9% in 2017
Salary of Belarus' public sector employees to increase by 9% in 2017 The parliament of the 5th convocation in Belarus is completing its work, but before handing over the authority the MPs need to adopt and endorse the main financial document of the next year - the budget.

03.10.2016

Belarus’ budget for 2017: project’s income included in budget is higher
Belarus’ budget for 2017: project’s income included in budget is higher The draft budget for 2017 was adapted during the first reading in the Parliament on October 3. The draft budget provides for an increase in health, education and research spending. There will be more funds for the payment of maternity capital. As noted by the MPs, the document is based not on economic assumptions but on the realities of the time. In comparison with 2016, it is expected to have increase of income by 6%. The draft budget provides for an increase in pensions.
Belarusian parliament considering draft budget for 2017
Belarusian parliament considering draft budget for 2017 The draft budget for 2017 is being considered in the House of Representatives, the lower chamber of the Belarus parliament, on October 3. The ninth session opened today is the final for the MPs of the fifth convocation. The parliamentarians began work on the main financial document in the spring. It was assessed today in the first reading in the Oval Hall. The draft budget provides for an increase in health, education and research spending. There will be more funds for the payment of maternity capital.

27.09.2016

Belarus discussing draft budget for 2017
Belarus discussing draft budget for 2017 Belarus is discussing the most important financial document - the budget for 2017. The relevant draft document has already been published by the Ministry of Finance and received first comments. The talk show "What's Going On?" on RTR-Belarus tried to figure out what Belarus' economy will be like in 2017? Mikhail Kovalev, dean of the economic faculty of Belarusian State University, Doctor of Physical and Mathematical Sciences, professor:   This is a budget taking into account the worst case scenario.

22.09.2016

Belarus’ state budget for 2017
Belarus’ state budget for 2017 The so-called zero reading of the main financial document took place in Belarus. This meeting of deputies with the President was a rehearsal before the state budget will be reviewed by the Parliament. It is an opportunity to taken into account and eliminate controversy. Social orientation remains one of the main points. The financing of education, healthcare and science will be significantly increased. The budget includes additional support for large families.

21.09.2016

Belarus’ budget for 2017: Social orientation and reasonable expenses
Belarus’ budget for 2017: Social orientation and reasonable expenses Deputies of the House of Representative discussed the budget for 2017 on September 21. The so-called zero reading of the document is taking place before airing it in the Parliament. The draft of the budget presupposes the increase in the expenses on science by 20% and changes in the tax policy. It is expected that the main financial document will be adopted by the 5th convocation on the Parliament until the 6th convocation replaces it on October 11.

29.04.2016

Minimum subsistence budget to be increased in Belarus from May 1
Minimum subsistence budget to be increased in Belarus from May 1 Pensions and childbirth benefits are to be increased in Belarus. The government announced that the living wage budget will be increased from 1 May, 2016. It is considered to be a basis for the calculation of different social payments. The last time when the living wage was increased was in March 2016. Taking into account the regular reassessment, the raise will sum up to 7 per cent. The new minimum consumer budget of Belarus will be set at the beginning of May 2016.

30.03.2016

Belarus' Finance Ministry building
Belarus receives $500 million Eurasian loan tranche March 30 $500 million were received March 30 by the national budget of Belarus. The first tranche of the loan of the Eurasian Fund for Stabilization and Development has been allocated to Belarus.  The money will go to the reform program of the government's and the National Bank and will be particularly aimed at the creation of the macroeconomic prerequisites for economic growth and market reforms. Earlier, representatives of the bank said the money will be allocated in 7 tranches during 3 years.

15.03.2016

Alexander Lukashenko holds meeting on social and fiscal spheres
Alexander Lukashenko holds meeting on social and fiscal spheres On March 15, the Belarus president discussed the improving of the efficiency of government agencies, timeliness of salaries payment and job creation at a meeting on some issues of social and fiscal spheres. Taking part in it were officials from the Presidential Administration, the Government, Ministers of Finance and Labour and Social Security. The main task today is the creation of 50,000 jobs. However, all the necessary conditions should be created for this purpose.

18.01.2016

World economy going through difficult times: What is financial outlook for Belarus?
World economy going through difficult times: What is financial outlook for Belarus? The world economy is going through hard times. One of the main indicators of the global economic processes - the price of black gold - last week continued its rapid decline, which was immediately reflected in other financial and economic indicators, including exchange rates.

17.01.2016

Dmitry Shevtsov, MP
What new laws to expect in Belarus in 2016? Belarus has approved a plan for drafting legislation for 2016. The list includes 40 documents. There were many more legislative proposals, about 130. The proposals are authored mainly by MPs, government bodies and research institutions. The majority of laws pertain to economic issues. The budget package includes 9 bills. The social sphere has not been forgotten either. Some changes will affect social services, housing and utilities sector. There will be some new points introduced for families with children.

03.01.2016

President signs Belarus' budget for 2016
President signs Belarus' budget for 2016 The Belarus President has signed the law on the national budget for 2016. It is going to be executed with a surplus: the country intends to make more than BYR 180 billion and spend about BYR 163 billion. Key development objectives are growth and export diversification as well as the creation of new jobs. The Belarusian budget for 2016 will keep its social orientation. The priority is the financing of education and health. 

20.12.2015

Belarus' 2016 budget overview
Belarus' 2016 budget overview The Belarusian parliament adopted the 2016 budget on December 18 evening. This year, the deputies had to take into account a lot of negative external factors.

17.12.2015

Belarus' switches to three-year budget planning
Belarus' switches to three-year budget planning December 17 deputies of the Belarusian lower chamber of the parliament considered the main financial document of the country - the 2016 budget. One of the major innovations is switching to the three-year budget planning.    The main tasks are macroeconomic and social stability. The draft budget for 2016, along with a package of related legislative documents, entered the lower house of parliament today. The developers have kept social orientation. This is the budget line, which has been a priority for many years. 
Belarusian MPs to consider 2016 budget December 17
Belarusian MPs to consider 2016 budget December 17 The main financial document of the country will be considered today, December 17, by Belarusian MPs. The draft law on the national budget for 2016 entered the House of Representatives yesterday after a long way of discussions at the level of the President and the government.

13.12.2015

Economic growth without social shocks: Belarus President about 2016 budget
Economic growth without social shocks: Belarus President about 2016 budget The Belarusian President, Alexander Lukashenko, held on Monday a major meeting to discuss the 2016 budget and future macroeconomic policy of Belarus. External factors do not allow building optimistic forecasts. But Belarus is not going to go with the flow. There are still reserves. Belarus needs to mobilize all forces and resources. This is perhaps the main demand of the head of state.

07.12.2015

Belarus set for hard budget constraints in 2016
Belarus set for hard budget constraints in 2016 To mobilize all resources to boost the economy. The prospects of socio-economic development for 2016 were discussed at a meeting hosted by the head of state. Alexander Lukashenko noted that not all measures to ensure the economic stability are being realized. Belarus is going to mobilize all available forces and resources. It will create a good environment for investment to comply with all social guarantees and to develop the industry.

18.11.2015

Belarus' 2016 budget to maintain socially oriented nature
Belarus' 2016 budget to maintain socially oriented nature The national budget for 2016 will maintain social nature. Today, November 18, Belarus' MPs began to discuss drafts of the budget law. The underlying factors in the formation of the budget are the timely repayment of external loans, the reduction of inflation and output growth.  External factors influenced the content of the main financial document of Belarus to a great extent. First of all, we are talking about oil prices.

19.10.2015

Belarus' budget for 2016: experts' forecasts
Belarus' budget for 2016: experts' forecasts After the freezing of the EU sanctions economic and trade relations with the Union are likely to be developing more actively. In the meantime, the Belarusian budget for next year will be adopted with a surplus of 2% of GDP. Now work on the main financial document of the country is in full swing. Several scenarios are being developed. The budget surplus is going to stand at 2%, or BYR18 trillion.

05.10.2015

Belarus parliament opens 2015 autumn session: agenda
Belarus parliament opens 2015 autumn session: agenda Last week, there began the eighth session of the House of Representatives of the National Assembly of the Republic of Belarus. All attention is now focused on the draft budget of Belarus for 2016. MPs themselves are aiming for a balance in the economic development and innovation.   The Finance Ministry began work on the draft in the spring. And still deputies consult with financiers every day and make additions.

02.10.2015

Belarusian MPs adopt public-private partnership bill
Belarusian MPs adopt public-private partnership bill The law on the budget for 2016 should be very pragmatic, said Chairman of the House of Representatives Vladimir Andreichenko. On October 2 the eighth session of the Belarusian parliament opened. According to the speaker of the lower house, the 2016 budget bill should be based on realistic estimates and projections. Social orientation is still a priority in the financial document.

17.08.2015

Andrei Kobyakov, Belarus Prime Minister
Belarus to draft 2016 budget considering tough foreign economic conditions Balanced foreign trade, stabilization of foreign exchange reserves and a slowdown in inflation in Belarus. Results of the socio-economic development of Belarus for the first half was summed up today, on August 14, by the government. The economy is in a difficult external environment. And yet, the country timely pays off foreign debts and ensures the growth of export. Budget revenues amounted to 4.5 percent of GDP.

16.02.2015

Alexander Lukashenko
Alexander Lukashenko: Belarus spends too much on social benefits Taxes is not only a fiscal tool, but also an incentive for economic development. On February 16, the President said this at the meeting on the current issues of tax policy in Belarus. The topic is not new, however, a lot of important aspects still remain in it. They pertain to tax incentives, tax control, and the current state of Belarus' tax system.

22.01.2015

Alexander Lukashenko does not rule out state support to Geely carmaker At the meeting of Alexander Lukashenko with premier Andrei Kobyakov on January 22, the officials touched upon the measures to stimulate sales of Geely cars.  The people's car has been produced for several years at the joint Belarusian-Chinese venture. This project has been implemented in Belarus since 2011. In Borisov, up to 10,000 cars a year will be produced. The cars are popular in Russia and Kazakhstan. And, according to the President, the state may even stimulate sales of these cars if it gives effect to the budget and the state.

17.12.2014

Belarusian MPs adopt draft budget 2015 in second reading A draft law on the national budget for 2015 has been adopted by Belarusian MPs in the second reading. Traditionally, the main financial document of the country retains social orientation.  It aims to reduce external debt and increase the salaries of state employees. Other priorities include the financing of individual sectors of the economy, its modernization and increase in export.

11.12.2014

Income tax in Belarus may increase to 13% Belarus continues to support families with children: in 2015, record amounts of money will be allocated for these purposes from the country's budget. The House of Representatives, the lower house of the Belarus parliament, adopted the 2015 budget of Belarus in the first reading on December 11.  Next year's budget will focus on decreasing the national debt, maintaining the achieved level of funding for health and education and increased support for families with children. Great Patriotic War veterans will get a total of Br300 billion.
Belarus budget for 2015: Social welfare state amid tiny growth The lower house of the Belarusian Parliament, the House of Representatives, adopted the country's budget for 2015 in the first reading on December 11. The main financial document has a surplus of 15 trillion rubles. National budget revenues for 2015 will amount to about 157 trillion rubles. Budget priorities in 2015 will be the reduction of public debt, maintaining the achieved level of health and education funding and more support for families with children. Social orientation has been maintained in the budget.
Alexander Lukashenko wants Belarus' economy to grow quicker The Belarusian head of state instructed the government to achieve higher figures in 2015 than it was initially planned. It is projected that the growth would be less than 1%. According to Alexander Lukashenko, the country should take every opportunity to improve its macroeconomic figures.

08.12.2014

Belarus waiting for 2015 budget to be adopted Belarus' budget for 2015 has been planned with a surplus. As expected, revenues will exceed expenses by almost 16 trillion Belarusian rubles [about $1.5 billion]. On December 8 the draft budget was considered by members of the House of Representatives [lower chamber of Belarus' parliament] and heads of ministries. The budget will still be socially oriented. State support will be granted to priority sectors of the economy.