In Belarus central government budget surplus narrows to 1.5% of GDP by end-August

The consolidated budget surplus amounted to BYN1.5bn (about USD 750mn) in January-August, the FinMin has reported. This corresponded to 2.5% of GDP, said the FinMin. The surplus narrowed from 3.2% posted in January-July. The republican or central government budget surplus equaled BYN0.9bn in January-August, down from BYN 1.0bn in January-July, and in relation to GDP it fell to 1.5% from 2.0%.

The consolidated budget revenue equaled BYN25.2bn in January-August, and expenditure equaled BYN23.7bn, the FinMin said. The figures for the republican budget were respectively BYN11.3bn and BYN10.4bn. VAT accounted for BYN5.5bn of the total revenue (65.2% of the annual target) and for BYN3.8bn of the republican budget revenue. The social security fund revenue accounted for a bit more, BYN7.8bn of the total consolidated budget revenue (62.9% of the annual target), according to the report. By contrast, corporate profit tax revenue was small, at only BYN1.2bn (53.4%) in the consolidated budget and BYN0.4bn in the republican budget (only 38.7%).

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