Korbut: Financially it would be a difficult year :: Charter'97 :: News

Increase of imported energy resources would lead to additional increase of expenses of Belarusian budget at Br1.3 billion. Belarusian Finance Minister Mikalay Korban has told about that at a press conference of the ministry about that. “Today we face a task to create a reserve for the next year, which is to be very difficult financially”.

He reminded that since this year Russian gas price for Belarus had increased twofold, and Belarus buys oil with a tax of more than $50 per ton. This all would cause a change of parameters of the state budget’s expenditures and revenues. However, Finance Minister has underlined that basic principles of budget and finance policy of the state would be preserved. It’s a decrease of tax burden, socially orientated state budget, and support of the real sector of economy, BelTA informs.

As said by Mikalay Korbut, Belarus’ republican budget for 2007 was balanced with a deficit of Br1.4 billion. “We won’t increase it, but we would redistribute budget expenditures in certain directions,” he explained.

In 2006 Finance Ministry of Belarus executed the state budget with a surplus of Br 1.2 billion (taking in account the funds) or about Br 20 billion (not considering funds). Mikalay Korbut informed that social policy expenses had been covered completely. They were equal to 60% of the budget.

The real sector of economy received a support of Br 5.5 billion by the state budget. The volume of credits of all levels of economy was Br 4 billion.

Last year a systematic work on simplification of the tax system was carried out.

He noted that Finance Ministry had been supporting the level of financial security of the country. Belarus’ state debt for the beginning of 2007 was $838 million with an approved limit of $2 million.

The domestic loan through issuing government securities in 2006 was Br 2.2 billion and reached Br 3.3. Overall government debt makes Br 5.2 billion as per the beginning of this year.

As said by Mikalay Korbut, the influence of the state budget on forming recourses of the bank system was large as well. Banks’ statutory funds have been increased by Br 654 billion due to the state budget funds. It makes 94.6% of the increase of statutory funds.