Belarusian Ministry of Finance submits draft 2027 budget to parliament, with deficit of 0.5% of GDP

MINSK. Sept 30 (Interfax) - The Belarusian Ministry of Finance has submitted the draft republican budget with a deficit of 0.5% of GDP to parliament, the ministry's press service reported.

The draft budget is built around a target scenario for the development of the economy in which GDP grows 1.9% and inflation up to 6% in 2027.

The draft budget retains a strong social component, allocating 44% of expenditure to the social sphere. Healthcare spending will increase 11.3% and education spending 12%.

Belarusian Minister of Finance Vladislav Tatarinovich has said that the draft 2027 budget stipulated 6% growth in revenues and expenditure. "The budget deficit will be somewhat narrower than the current level; we are aiming for balance in the formation and execution of the budget," he said.

The law on the budget for 2026 was approved with a deficit of 4.3 billion Belarusian rubles or around 1.5% of forecast GDP, with revenues of 54.4 billion Belarusian rubles and expenditure of 58.7 billion Belarusian rubles. Compared with 2025, revenues should grow 12.4% and expenditure 10.4%.

In April 2026, the Belarusian government approved a mid-term financial program for the country's budget, targeting a transition to a zero-deficit budget from 2027 onwards and a surplus from 2028.

Belarus executed its budget with a deficit of 2.2 billion Belarusian rubles in 2025, versus the planned 4.5 billion Belarusian rubles.

The Belarusian Ministry of Finance stopped publishing regular reports on the budget's execution in 2022.