Business news

MINSK, 9 August (BelTA) – Belarus’ state budget will have a surplus in 2019, BelTA learned from Belarusian Deputy Finance Minister Dmitry Kiyko on 9 August.

The official said: “The budget will continue having a surplus because we stick to the budget rule and will channel some of the revenues – primarily revenues from import customs duties – into repaying the state debt. We keep the scheme in place, this is why there will be a surplus.”

Revenues of the state budget are expected to drop by 1.7% in 2019. “We will keep a surplus since we plan the spending part rather tight,” explained the deputy finance minister.

BelTA reported earlier that Belarus’ draft budget for 2019 has been put together with the expectation that oil will cost $60 per barrel, with inflation expected at 5% and the refinancing rate at 9.75%.