BELARUS NEWS AND ANALYSIS

DATE:

06/12/2007

Belarus Finance Ministry predicts budget surplus in 2007

MINSK. Dec 6 (Interfax-West) - The Belarussian Finance Ministry plans to implement the 2007 budget (including social benefit and target funds) with a surplus of 0.5% of GDP, the ministry told Interfax.

Without the funds, the budget is likely not to have a surplus or a deficit, a ministry spokesman said.

The ministry is working on another budget adjustment that will raise spending by 420 billion Belarussian rubles, he said. This money will be used to increase subsidies for oil refineries. Revenue is expected to increase by around 900 billion Bel. rubles because of a rise in export duties on oil products from December 1.

The budget was implemented with a surplus of 2.24 trillion Bel. rubles, or 2.9% of GDP, in January-October 2007.

Almost 60% of the budget surplus was due to a surplus in the social benefit and target budget funds.

Revenue totaled 29.13 billion Bel. rubles, or 86.7% of the target for the year, and spending was 26.89 trillion Bel. rubles, or 77.3%.

The 2007 budget plan puts revenue at 33.598 trillion Bel. rubles, spending at 34.763 trillion Bel. rubles and a deficit of 1.16 trillion, or 1.2% of GDP.

The official exchange rate on December 5 stood at 2,153 Bel. Rubles/$1.

Source:

http://www.interfax.com/3/343577/news.aspx