OREANDA-NEWS. September 17, 2010. The lower chamber of parliament, the House of Representatives, on Tuesday passed after the first read the country’s budget bill for 2011.

The budget deficit is projected at 6 trillion Belarusian rubles (Br), or 3% of GDP. The level of the anticipated deficit “corresponds to international financial security standards,” Finance Minister Andrei Kharkovets said when presenting the bill.

“To cover it we will spend the remainder of funds accumulated in previous years, as well as foreign and internal borrowing,” Kharkovets said.

Consolidated budget revenues are projected at 54.53 trillion rubles in 2011, an increase of 18.1% from the level expected this year, and republican budget revenues are to amount to 33.61 trillion rubles, up 16.9% from this year.

Consolidated budget expenditures are expected to reach 60.53 trillion rubles, up 18.3% from the level projected this year, of them republican budget expenditures are to reach 39.61 trillion rubles, up 23.3% on the year.