21 Aug 2019 14:31

Revenue to Belarusian budget from export duties on petroleum products fell 37% in H1

MINSK. Aug 21 (Interfax) - The Belarusian budget received 636.9 million Belarusian rubles in revenue from export duties on petroleum products in H1 2019, a year-on-year decrease of 37.1%, according to the country's Finance Ministry.

Revenue from duties on the export of oil produced in Belarus fell 41.7%, to 111.1 million rubles.

Revenue from duties on exports of potassium chloride grew 0.4%, to 733 million rubles.

Total revenue from export duties thus fell 23.4%, to 1.48 billion Belarusian rubles. Total revenue from international economic activity fell 16.5%, to 2.26 billion. Its share in total revenue fell to 19.6% (23.5% a year before).

The decrease in revenue from export duties on petroleum products, which are Belarus's main non-debt source of funds for redeeming foreign state debt, was due to Russia's tax maneuver and the contamination of Russian oil in the Druzhba system in April.