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Belarus Parliament approves 2017 budget bill in second reading

MINSK (BelTA) - Members of the House of Representatives approved the national budget 2017 bill in the second reading, BelTA has learned.

“The MPs were actively involved in all stages of the development of the bill, have made their comments and suggestions, some of which have been taken into account,” said Lyudmila Dobrynia, the chairperson of the permanent commission for budget and finance of the House of Representatives. The budget is realistic, taking into account the environment in which the Belarusian economy operates. This is the result of compromises of the political, economic and social interests,” she said.

The budget surplus is projected at Br1,496.2 million. The revenues of the draft budget 2017 are forecast at Br18,235.2 million, or up by 6.1% from 2016. The main sources of tax revenue are the value added tax (31.5%), excises (7.6%), tax revenues from foreign economic activity (10.5%).

The budget expenditures are forecast at Br16,739.1 million in 2017, or 98.9% of the 2016 budget expenditures.

The key objectives in 2017 will be to recover the economic growth, enhance the competitiveness of the economy and create the conditions for achieving the goals set out in Belarus' social and economic development program 2016-2020.