The budget, social guarantees, public sector salaries, allowances, pensions, and foreign debt payments were discussed at the meeting of the President with First Deputy Prime Minister Nikolai Snopkov and Finance Minister Yuri Seliverstov. This year's budget is being implemented in the context of decreased economic activity. There were certain difficulties in the work of the petrochemical complex related to the regulation of oil supplies at the beginning of 2020. Contacts with major trading partners declined, due to the pandemic, border closures.
About half a billion rubles has been allocated to fight the coronavirus. This includes treatment of people, and payments to medical and social workers. The Ministry of Finance has balances in Belarusian rubles accumulated over previous surplus years. If income is reduced, it will be used to fulfill all obligations.
Expenses for payment of salaries, allowances, scholarships and pensions are provided. According to the Ministry of Finance, about a billion rubles will remain in the budget due to the cancellation of many events and the postponement of the Olympic Games in Tokyo. Thanks to the warm weather, we saved on utility bills, and because of distance learning in schools, we also saved on food.
The state is ready to optimize its expenditures, but this will not affect its obligations to people.
Yuri Seliverstov, Minister of Finance of Belarus: "The shortfall in revenue in the entire republican budget is expected to be about 3-4 billion rubles. Local budgets are being implemented steadily. The percentage of income received for 7 months is the same, compared to the last year. This is not bad, because the main social obligations are financed from local budgets. The situation is clear and manageable. A certain shortfall in revenues in the national budget creates some difficulties in financing expenditures. This is quite a big challenge. We will pay all social obligations, taking into account that we have a certain amount of balances that we formed in previous years. Everything will be implemented, considering wages and support for the social protection fund for pensions. All obligations to people on wages and others will be fulfilled unconditionally."
Payments on foreign currency public debt amount to just over 3.5 billion dollars this year. Part of the debt was refinanced at the beginning of the year. We are working on the deal, including with Russian banks, so we have a clear vision that all payments will be made in full.
The Finance Minister noted, speaking about fluctuations in the foreign exchange market and their impact on the state budget, payments that are linked to the dollar will increase slightly. Income from exporters such as Belaruskali will grow. Belarus has already made the bulk of its contributions to the statutory funds of the international organizations, and these expenditures will not be seriously affected by fluctuations in the foreign exchange market.
President receives First Deputy Prime Minister and Finance Minister with report on salaries, pensions, and external debt
25 августа 2020












