OREANDA-NEWS. October 5, 2011. The deficit of Belarus’ republican budget in 2011 is expected to stay under 1.3% of the GDP, vice premier Sergei Rumas told a press conference on September 21.

In the meantime, the government will try to make sure the republican budget is deficit free in 2011, Rumas said.

The republican budget indicates spending and revenues of the central administration, whereas the consolidated budget also includes local budgets.

Belarus had a consolidated budget surplus of Br3.3 trillion in January-August, the vice premier informed. The official attributes that to fund-sparing efforts in the state-funded sector and budget income proceeds coming in ahead of schedule.

While making a state budget plan for 2012, the government plans to reduce the rate of income tax (now at 24%), Rumas informed.

Belarus’ Finance Ministry posted a republican budget surplus of 1.4 trillion Belarusian rubles Br in January-July 2011, or 1.1% of GDP.