OREANDA-NEWS. July 17, 2012. Belarus’ Finance Ministry posted a republican budget surplus of 400 billion Belarusian rubles (Br) (almost USD 48 million at the NBB rate) in January-May 2012, or 0.2% of GDP, an official with the Finance Ministry told reporters.

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

Republican budget revenues amounted to 34.4 trillion rubles (USD 4.1 billion) in January-May 2012, or 36.6% of the target for the whole year.

Revenues from the value-added tax amounted to 16.4 trillion rubles (almost USD 2 billion, 34.8% of the year target), from income tax – Br9.3 trillion (USD 1.2bn, 55.4%), from foreign economic activities 9.4 trillion rubles (USD 1.1bn), 37.2% of the target.

Republican budget expenditures reached 34 trillion rubles (around USD 4.1 billion), 36.1% of the target for 2012.

Expenditures on welfare, science, culture, healthcare, mass media, sports, education, etc. amounted to 43.6 trillion rubles (USD 5.2bn), 40.4% of the target for 2012, national economy expenditures were at almost 11 billion rubles, 40.6% of the target, and general state expenditures at 10.5 trillion rubles, 29.5% of the target.

According to the new edition of the budget plan adjusted by the Finance Ministry, the 2012 republican budget revenues are projected at 94.011 trillion rubles (USD 11.178 billion), and expenditures at 93.919 trillion rubles. Hence, in 2012 Belarus is expected to have a deficit budget on Br91.9 billion (USD 10.9 million).