OREANDA-NEWS. Belarus plans to draw USD 1 billion in external financing in 2015, Finance Minister Vladimir Amarin said at a meeting in the Belarusian parliament. The commission on budget planning and finance at the lower chamber of Belarus' parliament held an expanded meeting on Monday, with the finance minister in attendance.

According to Amarin, in 2015 Belarus plans to have zero-deficit budget and use proceeds from export duties on petroleum products to pay off the country's external debt.

The Finance Ministry plans to draw a total of USD 1 billion in external credits in 2015, Amarin said. In his words, Belarus' budget plan for 2015 takes into account the risk of global economic downturn, and relies on a forecast that pictures a 0.5% GDP growth in Belarus.

Belarus' monetary policy will focus on facilitating financial stability and reducing inflation growth to 12% by the end of the year, while the refinancing rate will go down to 15-16% per annum. The level of international reserves is expected to remain unchanged year on year in 2015, the minister said.

In his words, while taking care of external credit liabilities at the expense of the central budget, Belarus plans to sustain budget financing for education and healthcare programmes, economic development, export promotion.

Amarin informed about plans to adjust the rates of taxes and excises. In particular, Belarus plans to increase the rate of the profit tax for banks from 18% to 25%, raise the rate of the income tax from 12% to 13%, introduce a special duty on crude oil export.

The tax burden on the economy will come at 23.6% of the GDP, on par with the 2014 level.

Belarus' proceeds from customs duties on exported oil products have been estimated at USD 1.89 billion, Amarin said.

Belarus' 2015 budget revenues are estimated at Br252.9 trillion (USD 23.330 billion), anticipated budget surplus - Br15.7 trillion (USD 1.448 billion). Budget expenditures include Br10.6 trillion (USD 0.978 billion) in real economy support funds, export promotion - Br1.3 trillion (USD 120 million), soft credits for agricultural companies - Br5.9 trillion (USD 544 million).

The average wage in 2015 is expected to increase by 13.8% (in nominal terms), with pension benefits accounting for at least 40% of the average wage.