(Read the full article on BELTA.BY)

The deputies at the meeting of the sixth session of the House of Representatives of the National Assembly of Belarus of the seventh convocation adopted in the second reading the bill “On the Republican Budget for 2022”, BelTA has learned.

The draft republican budget and the estimated indicators for the budgets of the regions and Minsk for 2022 were developed on the basis of the provisions of the program documents on the socio-economic development of the country, taking into account the emerging economic situation. The bill proposes to determine the volumes of revenues, expenditures and deficit of the republican budget.

“Of course, when preparing the budget, various scenarios of economic development in the next year were considered, the impact of sanctions pressure, the relationship that is currently being built with the West, the strengthening of export potential and the orientation of the market in our traditional direction – the Russian Federation, Asian countries, China, were taken into account,” she said. Chairman of the Standing Committee on Budget and Finance of the House of Representatives Lyudmila Nizhevych.

In 2022, it is envisaged to include in the republican budget funds from state targeted budget funds: the national development fund, the republican centralized innovation fund, the republican road fund, the republican fund for universal communication and informatization services and the republican fund for civil aviation.

The republican budget revenues for 2022 are forecasted in the amount of Br27,827,460,695. The structure of the republican budget revenues is made up of tax revenues, non-tax revenues, and gratuitous receipts. The main tax sources of the republican budget revenues in 2022 are value added tax, income tax, excise taxes, tax revenues from foreign economic activity.

The expenditures of the republican budget for 2022 will amount to Br30 672 181 344.

In 2022, the main goals for the public finance sector will be to ensure economic growth based on more efficient use of external and internal resources in order to increase the welfare of the population of Belarus and reduce regional imbalances.