Ministry of Finance predicts that next year's state budget will be executed with a deficit of 1.5% to the GDP level. As First Deputy Finance Minister of Belarus, Vladimir Amarin, reported on May 28, Finance Ministry builds these figures into the draft of budget for 2011.
In addition, Ministry of Finance forecasts the same index of budget for 2012 and 2013, BelTA informs. As the deputy finance minister stressed, it is «pretty tough» prediction.
«Today, there is a work in ministries to develop basic indicators of their activity for 2011, which shall be submitted to Finance Ministry till June 1 to analyze the work with ministries on specific parameters of the next year’s budget», Vladimir Amarin said.
At the same time, Finance Ministry promises to find sources of covering the budget deficit. According to Vladimir Amarin, it can be achieved, for example, through the re-distribution of short-term bonds or by other means.
«Of course, we are planning to make this market work. To the date, there is a need the banks to have government securities as liquid instrument in their portfolio», deputy finance minister of Belarus said.
As Telegraph previously reported, over the first four months of this year, the national budget deficit of Belarus amounted to 1.3 trillion rubles (about 433.9 million dollars). It was informed at the Ministry of Finance on May 24.
