OREANDA-NEWS. Belarus' Finance Ministry posted a republican budget surplus of 1.7 trillion Belarusian rubles (Br) (U.S. USD 160.529 million at the NBB rate) in January-August 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 78.2 trillion rubles (USD 7.384 billion) in January-August 2014, or 60.5% of the adjusted target for the whole year.

Republican budget expenditures reached 76.5 trillion rubles (USD 7.224 billion), 59.1% of the target for 2014.

Revenues from the value-added tax amounted to 44.7 trillion rubles (USD 4.22 billion, 67.3% of the year target), from income tax - Br10.9 trillion (USD 1.03 million, 54.4%), excises - Br13.4 trillion (USD 1.265 million, 58.8%), from foreign economic activities 11.7 trillion rubles (USD 1.11 billion), 45% of the target.

Revenues of the Labour and Welfare Ministry's social security fund (SSF) in Jan-Aug are estimated at Br61.3 trillion (USD 5.79 billion, 64.5%).

Tax arrears totalled Br332.5 billion (USD 31.4 million), down month on month by Br24.7 billion (USD 2.332 million) as of September 1, 2014.

Revenues of the state administration budget (republican budget, local budgets and SSF) totalled Br196.1 trillion in January-August 2014 (USD 18.518 billion), 63.7% of the adjusted annual plan; expenditures - Br190.5 trillion (USD 17.989 billion, 62.2%).