President signs Law on the Republican Budget 2018

31 декабря 2017

The President signed the Law on the Republican Budget 2018, the Decree on the Tasks of the Socio-Economic Development of Belarus and approved the main directions of the monetary policy.

So, the main financial document of the country is made taking into account the conservative scenario. The surplus is expected at a rate of 733 million 88 thousand rubles and will be directed on repayment of a part of state debt. More money will be given to education and health care. The tax burden will not exceed 25.5% of GDP. The total amount of income of the non-budgetary social protection fund is planned at 13.58 billion rubles. The Head of State also signed the Law "On Amendments and Additions to the Budget Code", which is designed to optimize the budget process.

The main goals of 2018 will be to increase the competitiveness of the economy, ensure sustainable economic growth and create additional conditions for its acceleration in subsequent years. The GDP growth will be 3.5%. The National Bank and the government were instructed by the President to take the necessary measures to limit the growth of prices - no more than 6%.

The Head of State also signed a decree "On the approval of the main directions of the monetary and credit policy of Belarus for 2018". It will retain a strategic focus on ensuring price stability. The main goal will be to limit inflation. It should not be more than 6%. The general orientation towards liberalization of the monetary system will remain. The implementation of measures to reduce the level of dollarization of the economy will continue.