OREANDA-NEWS. Belarus' Finance Ministry posted a republican budget surplus of 2.4 trillion Belarusian rubles (Br) (U.S. USD 230.106 million at the NBB rate) in January-July 2014, or 0.6% 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 69.6 trillion rubles (USD 6.673 billion) in January-July 2014, or 53.8% of the adjusted target for the whole year.

Republican budget expenditures reached 67.2 trillion rubles (USD 6.443 billion), 52% of the target for 2014.

Revenues from the value-added tax amounted to 39.9 trillion rubles (USD 3.826 billion, 60.1% of the year target), from income tax - Br10.8 trillion (USD 1.036 million, 53.8%), excises - Br11.5 trillion (USD 1.103 million, 50.7%), from foreign economic activities 10.3 trillion rubles (USD 987.536 million), 39.5% of the target.

Revenues of the Labour and Welfare Ministry's social security fund (SSF) in Jan-Jul are estimated at Br53.6 trillion (USD 5.139 billion, 56.4%).

Tax arrears totalled Br357.2 billion (USD 34.247 million), up month on month by Br230.2 billion (USD 22.071 million) as of August 1, 2014.

Revenues of the state administration budget (republican budget, local budgets and SSF) totalled Br173.9 trillion in January-July 2014 (USD 1.673 billion), 56.8% of the adjusted annual plan; expenditures - Br167.5 trillion (USD 16.059 billion, 54.9%).