The deficit of the state treasury of Belarus in 2023 is estimated at between $ 1.2 and $ 1.6 billion at the current exchange rate. This was announced today, September 27, by the Minister of Finance of the Republic Yuri Seliverstov.
According to him, the sources of financing the budget deficit for the next year have already been determined. About $1.2 billion is expected to go into the payroll.
“This will increase the base rate by 10 percent. Additional funds are provided for targeted payments. According to our preliminary estimates, they will grow by half,” – he said and added that next year’s budget is also planned to be in deficit.
Siliverstov noted that this is due to the observed trend that market revenues from potash and oil are not fully restored.
“There will be a certain amount of deficit, but it will be provided with certain resources. In order to finance all expenses – traditionally balances (budget), there will be borrowings. In principle, there will be sources for financing the deficit, – assured the head of the Belarusian Ministry of Finance, noting that so far “we are preliminary talking about amounts between 3 and 4 billion rubles.”
It should be reminded that in past years the Belarusian budget, as a rule, had a surplus. However, due to sanctions imposed against the country by the West, the situation has changed. For the current year, according to the plan, a budget deficit of 2.8 billion rubles (more than $1.1 billion) has been approved.