OREANDA-NEWS. August 31, 2007. In 2008 Belarus’ state budget deficit will make 2% of the GDP (more than Br2 trillion). External resources will be the main source for financing the budget deficit, Belarus Finance Minister Nikolai Korbut said as he presented the next year’s state budget bill at a session of the Council of Ministers, reported the Official website http://www.government.by.

In his opinion, the figure corresponds to international requirements and is much lower than that in other countries.

In 2008 revenues of Belarus’ consolidated budget taking into account funds are estimated to total Br50,5 trillion, 13,9% up on 2007. Without the funds the figure is supposed to total Br38,5 trillion. Expenses of the consolidated budget without the funds are supposed to make Br40,8 trillion, 15,3% up on 2007.

According to the official, the consolidated budget will allocate Br12,2 trillion for financing the real economy. There are plans to spend Br29,9 trillion (59,3% up on 2007) on salaries of state budget companies, pensions, benefits, scholarships, the development of healthcare, education, culture, housing construction and other socially important goals.

The budget bill provides for about Br570 billion in direct state support to companies. Apart from that, a similar sum will be appropriated to grant preferential taxes to a large number of companies.

Preferential housing construction loans in the state budget are supposed to amount to Br346 billion in 2008.

Social policy expenses of the consolidated budget stand at Br14,9 trillion.