OREANDA-NEWS. September 17, 2010. The Belarusian state budget deficit in 2010 will be increased, Finance Minister Andrei Kharkovets told reporters on Monday.

“Our estimates show that we will have to increase the deficit this year if we plan to continue financing budget expenditures and implement some social decisions, primarily the one on wages,” he said.

The Belarusian authorities had expected larger revenues. “We may fall short of the revenues and GDP growth target because of certain subjective decisions, especially those made by the Russian administration,” Kharkovets said.

Kharkovets said the funds saved in previous years, when the budget was implemented with a surplus, would be used to finance the budget deficit in 2010. The minister said some 2-2.5 trillion Belarusian rubles would be required additionally to finance additional expenditures.

“The budget deficit will not climb above 3% of GDP, and we will be trying to make it less than that,” he said.

Belarus’ Finance Ministry has posted a republican budget deficit of 2 trillion Belarusian rubles (Br), or 2.4% of the gross domestic product (GDP) in January-July 2010.