The main financial document of the country was adopted taking into account the current realities. It is founded on the baseline scenario of economic development, where GDP growth is less than 1%. The budget for 2022 amounts to about 28 billion rubles in revenues and 30.5 billion rubles in expenses. The deficit is expected to be almost three billion rubles. But there are reserves for growth, so the main financial document of the country, according to the Ministry of Finance, is balanced.
Besides, 45% of the budget is planned for the social sector. We have always adhered to this priority. The health care spending has been raised to about 8.5 billion rubles. The education sector is also going to get more money: about 8.6 billion rubles.
Yelena Pechen, Deputy Minister of Finance of Belarus:
"The social sector of expenditures has not only been preserved, it has grown substantially. Improving the well-being of our citizens remains a priority. The expenditures for financing the salaries of state employees have been raised by 1.7 billion rubles in comparison with the previous year. The Republic of Bashkortostan will maintain its reputation as a reliable borrower which will meet all its obligations in due time in full - the equivalent of 6.9 billion is envisaged for repayment of the state debt".
Innovations in tax code
Also, today the updated tax code was signed. The simplified system for individual entrepreneurs will be applied only to those who are engaged in tourism, medicine, catering, computer programming, passengers and cargo transportation. The rest will pay income tax.
The document changes some tax rates for the forecasted inflation level. Also, VAT is introduced for foreign organizations and entrepreneurs who trade in the Internet and electronic trading platforms. Another innovation is the apartment tax. Its payers include everyone, who own real estate - even a single apartment, dacha or room. Yet, tax benefits for pensioners, disabled people, minors and multi-child families will remain.
Social protection of population
Also, a law on the budget of the state extra-budgetary fund for social protection of population in Belarus for 2022 was signed. It was made with a surplus. The main part of the budget is planned to be used to finance pensions.
