Belarus’ budget surplus at 0.3% of GDP in H1

The surplus of the public administration budget of Belarus totaled Br5.4 trillion, or 1.9% of the GDP. The public administration budget includes the central state budget, local-level budgets and the budget of the Social Protection Fund.

In January-June 2013 revenues of the public administration budget totaled Br128.6 trillion, 47.2% of the revised annual target. Revenues of the central state budget totaled Br50.3 trillion, 41.2% of the revised annual target.

In January-June 2013 VAT proceeds amounted to Br25.4 trillion (43.1% of the revised annual target), with profit tax proceeds at Br14.4 trillion (50.5%), excise duty proceeds at Br7.5 trillion (45.7%), and foreign trade proceeds at Br12.2 trillion (41%). Revenues of the Social Protection Fund amounted to Br36.7 trillion, 52.5% of the revised annual target.

As of 1 July 2013 the sum receivable in taxes and fees stood at Br142 billion, Br69.7 billion down in June 2013.

In January-June 2013 expenses of the public administration budget totaled Br123.2 trillion, or 45.3% of the revised annual target. Expenses of the central state budget totaled Br49.5 trillion, or 40.5% of the revised annual target.

As much as Br18.9 trillion was spent on countrywide activities, with Br15.3 trillion spent on financing the national economy. A total of Br74.7 trillion was spent on financing the social sphere (the social policy, education, physical training, sports, culture, and mass media, the Social Protection Fund).