OREANDA-NEWS. January 25, 2010. Belarusian President Alexander Lukashenko has adjusted budget parameters for 2009 and changed the deficit-free nature of last year’s budget by introducing a 900 billion-ruble deficit by ordinance #670 dated December 31, 2009.

Lukashenko cut republican budget revenues by 9.616 trillion rubles, or 17.5%, to 45.283 trillion rubles, and expenditures, by 8.716 trillion rubles, or by 15.9%, to 46.183 trillion rubles.

The parameters were adjusted because of the shorter revenues [the original budget bill had not been adopted without allowance for the effects of the global crisis –].

The president approved a reduction in tax revenues by 8.757 trillion rubles, including a reduction in profit and income tax revenues by 1.138 trillion rubles, of the VAT revenues by 1.667 trillion rubles, and of export customs duties by 3.851 trillion rubles, and of duties by 740 billion rubles.

An increase in non-tax revenues by 366 billion rubles was approved.

Budget expenditures are cut through a reduction in the reserve fund of the president by 8.269 trillion rubles and in budget loans and subsidies by 1.596 trillion rubles. Lukashenko also allowed an increase in “national economy” expenditures, the “fuel and energy” section, by 2.119 trillion rubles.

Also, the president raised the foreign debt limit by USD 500 million to USD 8.5 billion.

Belarus has suspended the contribution of USD 10 million to the charter capital of OAO Belinvestbank.

The adjustments of the republican budget will result in changes in budget programs and transfers from the state budget to region and Minsk budgets.

Belarus’ Finance Ministry posted a republican budget surplus of 535.2 billion rubles, or 0.4% of the gross domestic product (GDP), in January-November 2009.