In January-June 2020, the deficit of the budget of the public administration sector totaled BYN 2.14 billion, and the Republican budget deficit amounted to BYN 2.14 billion, the press service of the Finance Ministry reported.
In January-May, the Republican budget deficit equaled to BYN 70 million.
Revenues of the budget of the public administration sector totaled BYN 24.22 billion in January-June 2020. Expenditures were BYN 26.36 billion. Republican budget revenues equaled to BYN 10.3 billion. Expenditures of the Republican budget amounted to BYN 12.1 billion.
Proceeds from VAT reached BYN 6.0 billion, profits tax – BYN 0.8 billion. Excise duties totaled BYN 1.4 billion. Revenues from foreign trade operations stood at BYN 1.5 billion.
As of July 1, 2020, the arrears on tax and duty payments stood at BYN 129.6 million.
In H1, BYN 6.1 billion was spent on nationwide activities, BYN 2.5 billion on financing the national economy, BYN 8.6 billion on financing the social sphere (social policy, education, healthcare, physical training, sport, culture, and mass media).
Proceeds to the Social Security Fund budget reached BYN 8.5 billion. Expenditures of the Social Security Fund were BYN 8.4 billion. The budget surplus of the Social Security Fund stood at BUN 0.1 billion.
In January-March 2020, Belarus; GDP amounted to 99.7% in comparable prices as against January-March 2019. Although Belarus' GDP gradually began to win back the January fall in February-March of this year, the index is nevertheless decreasing.
This conclusion is contained in the review "Economy of Belarus in February-March 2020" prepared by the experts of the research company InComeIn.
An example of many countries struggling with the coronavirus epidemic shows that the introduction of quarantine can not only stop the spread of the epidemic but also prevent serious economic consequences for the country and the population. The likelihood that enterprises in Belarus will not be able to partially or fully carry out their activities due to the coronavirus epidemic only increases.
According to the Department of Statistics of the Eurasian Economic Committee (EEC), the GDP of the Eurasian Economic Union (EAEU) countries grew by 1.4% in comparable prices over the past year. All main kinds of activities demonstrated growth. Passenger transportation, agriculture, and manufacturing showed the greatest growth.