29 March 2024, Friday, 10:47
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Budget To Be Reconsidered Again: “We Should Live Within Our Means”

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Budget To Be Reconsidered Again: “We Should Live Within Our Means”

In June the Ministry of Finance will present a draft decree on adjusting state budget parameters.

It has been planned in the document to reduce the budget spending for the sake of balancing the state budget by the end of the year. Finance Minister Uladzimir Amaryn told about that in his interview to “The Main Air” BT-1 program.

By the way, this will be the third version of the budget for 2016. The first version was adopted in late 2015, but in February 2016 it had to be revised in terms of the world oil price drop, Euroradio reports.

Amaryn says that the reduction will affect “separate low priority spending” and not the “urgent needs of the public sector.” In addition, according to the minister, subsidies to local budgets will be cut down to make them take adequate measures to reduce the expenditures.

The total amount of possible reduction, according to the Minister of Finance, estimates to about Br 15 trillion, or about 7% of all budget expenditures.

The minister insisted that we should “live within our means – this applies to both the people and the budget.”

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