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Country News

8 February 2012

Belarus’ budget executed with a 3% surplus in 2011

MINSK, 8 February (BelTA) – Belarus’ budget was executed with a 3% surplus in 2011, Deputy Finance Minister Maxim Yermolovich told reporters. “In terms of fiscal policy, we did good last year. In 2011, we were planning to execute the budget with a deficit of 1.5% of GDP. Actually we did it with a surplus of 3% of GDP. This is quite a good result. The lending for government programs was provided in the volumes we projected. Therefore, the results of the budget execution are good enough,” Maxim Yermolovich said. “There are preliminary results of the budget execution in January. It was executed with a surplus. So was the budget of the Social Security Fund, which means that we have entered into a standard process of budgetary financing,” said Maxim Yermolovich. Speaking about the tasks for 2012, he noted that achieving high economic growth pace requires adequate funding. “All decisions to ensure further stabilization of the situation in the country and sustained economic growth have been already adopted,” Maxim Yermolovich said.

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