Belarus' budget deficit in 2009 projected at 1.8% of GDP

The deficit of the consolidated budget of Belarus in 2009 is projected to make up Br2.8 trillion, or 1.8% of GDP, First Deputy Finance Minister Andrei Kharkovets said at a session of the Council of Ministers focusing on the 2009 draft budget on July 15. In 2009 the revenues are prognosticated at Br71.9 trillion, expenditures Br74.7 trillion. According to the 2009 draft budget, Br8.7 trillion will be assigned to finance 56 national programmes, up almost 30% from 2008. A priority in the expenditure policy will be to ensure the growth of wages in the budget-covered sectors to increase wages to $700 in equivalent by the end of 2010. By the end of 2009 wages in the budget-covered sectors are expected to average $550. In 2009 the expenditures on health care will be up 34.7% from 2008 to Br6.5 trillion, on education 36% to Br8.8 trillion. Defence expenditures will up by 37% to almost Br2 trillion. Andrei Kharkovets noted that in 2009 additional expenditures will be secured in the budget in connection with increasing costs of energy imports. Thus Br1.7 trillion will be assigned to subsidize utilities companies.