Belarus has budget surplus of 1.5% of GDP in Jan-Oct
MINSK. Dec 1 (Interfax) - Belarus posted a budget surplus in January-October 2011 of 3.33 trillion Belarusian rubles (8,590 Belarusian rubles/$1 on December 1), or 1.5% of GDP (amid a planned deficit of 0.3% of GDP for 2011), the Finance Ministry reported.
Revenue totaled 37.97 trillion Belarusian rubles in the ten months, 77% of the annual target, including 13.64 trillion in VAT (79.1%), 10.9 trillion in foreign economic transaction revenue (72.8%), 4.32 trillion in excises (78.9%) and 2.96 trillion in profit tax (80.9%).
Spending totaled 34.64 trillion Belarusian rubles (69.2% of the annual target), including 15.76 trillion on general government spending (67.6%), 6.33 trillion on the national economy (68.9%) and 7.53 trillion on the social sector (72%).
The 2011 budget set revenue at 33.61 trillion Belarusian rubles (up 11% on 2010) and spending at 39.61 trillion (up 15.5%) with a deficit of 6 trillion, or 3% of GDP. The Finance Ministry expects a deficit of 6.71 trillion Belarusian rubles, or 3.3% of GDP, due to an increase in spending to 40.32 trillion.
In November, Belarus' budget for 2011 was adjusted on President Alexander Lukashenko's order, after which the deficit was lowered to 800 billion Belarusian rubles (0.3% of GDP) based on revenue growth of 46.7% to 49.28 trillion Belarusian rubles, and spending growth of 26.5% to 50.08 trillion Belarusian rubles.
