OREANDA-NEWS. Belarus' Finance Ministry posted a republican budget surplus of 1 trillion Belarusian rubles (Br) (U.S. USD 98.04 million at the NBB rate) in January-May 2014, or 0.4% of GDP, the Finance Ministry said in a release.

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

The surplus was produced mostly by means of restraining second-priority expenditures, the ministry explained.

Republican budget revenues amounted to 45.2 trillion rubles (USD 4.43 billion) in January-May 2014, or 34.9% of the adjusted target for the whole year.

Republican budget expenditures reached 44.2 trillion rubles (USD 4.33 billion), 34.2% of the target for 2014.

Revenues from the value-added tax amounted to 27.1 trillion rubles (USD 2.657 billion, 40.7% of the year target), from income tax - Br6 trillion (USD 588.235 million, 30.7%), excises - Br7.5 trillion (USD 735.29 million, 33.1%), from foreign economic activities 7.1 trillion rubles (USD 696.08 million), 27.3% of the target.

Revenues of the Labour and Welfare Ministry's social security fund (SSF) in Jan-May are estimated at Br36.8 trillion (USD 3.61 billion, 38.7%).

Tax arrears totalled Br229.4 billion (USD 22.5 million), down month on month by Br213.5 billion (USD 20.93 million) as of June 1, 2014.

Revenues of the state administration budget (republican budget, local budgets and SSF) totalled Br117.3 trillion in January-May 2014 (USD 11.5 billion), 38.3% of the adjusted annual plan; expenditures - Br114.6 trillion (USD 11.24 billion, 37.6%).