Posted 4 июля 2020, 21:01

Published 4 июля 2020, 21:01

Modified 24 декабря 2022, 22:37

Updated 24 декабря 2022, 22:37

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Budget revenues of Belarus fell record 40%, while spending rose

4 июля 2020, 21:01
The Ministry of Finance of Belarus published data on budget execution for five months, from which it follows that the budget revenues of the general government sector are 26% and the republican one has decreased by 40.1%.

At the same time, budget expenditures of the general government sector increased in May by 1.4%, and republican - by 10.5%.

Data are given in comparison with last year.

“At the expense of what they will pay pensions,” the Belarusian edition asks a question, saying that the editors had predicted a record worsening of the situation with replenishment of the budget earlier.

Since inflation during the year for the same period amounted to 4.9%, real budget expenditures fell in total. We are talking about the aggregate budgets of the general government sector - the republican, local and Social Security Fund (FSZN).

FSZN revenues in May increased by only 2.1%, while expenses grew by 5.4%.

The decline in the Social Security Fund's income in real terms has been observed for the first time in a long time. About 90% of the replenishment is compulsory insurance contributions of employers and employees. To this, the Federal Employment Fund takes every month about 30% of the salary fund for employees of enterprises.

Also, according to the publication, the country's authorities published information about the losses suffered by the regions of Belarus this year. In some cases, the size of the losses can be called catastrophic.

For four months, large and medium-sized enterprises of the country suffered a net loss of 458.7 million Belarusian rubles (BYN). Last year, by comparison, they received a total of 4.512 billion BYN in net profit.

A sharp drop in profits is associated with an increase in the number of unprofitable companies and their financial losses, the newspaper writes. If in 2019, 17.7% of enterprises suffered net losses, then in the current year they already became 22.2%. In total, they lost up to 5.220 billion BYN; the amount of their losses has grown almost eight times.