OREANDA-NEWS. September 25, 2012. The Government of Belarus plans to fulfill the economic forecast for 2013 by following a zero-deficit budget plan, which does not imply monetary financing or increase the domestic debt to finance current expenditures. Belarus’ Premier Mikhail Myasnikovich stated that in his report to President Lukashenko at a conference with government members and central bank officials in attendance.

During the meeting they brought the president up to date on the country’s economic performance in January-August 2012 and proposed budget planning guidelines for 2013.

In turn, Finance Minister Andrei Kharkovets informed the gathering that the government had prepared a bunch of tax proposals for 2013 aimed ay reducing the tax burden to 27.6% of the GDP.

Also, the government suggests reducing the tax burden on small businesses by means of liberalizing the criteria for those eligible to the simplified tax system.

Consolidated revenues of Belarus’ budget for 2013 are expected to reach Br197 trillion (USD 23.4bn), with budget expenditures totaling 31.4% of the GDP.

The budget plan for 2013 has a marked welfare bent, with focus on healthcare, education and science.

In conclusion, the finance minister informed the gathering about a budget surplus of Br4 trillion (USD 375 million) produced in January-August 2012.

The finance minister reckons Belarus will be able to follow the budget plan for 2012 taking care to fulfil the government’s financial stabilization programme, which was approved by the EurAsEC Financial Bailout Fund.