Fiscal Policy Measures in 2023

In 2023, Belarus’ fiscal policy priorities are:

• maintaining balance of the central and local budgets within existing revenues and sources of financing to cover the fiscal deficit;
• maintaining social spending aimed at improving the quality of life of the population, the welfare of public-sector employees;
• consolidation of money of state non-budget funds and non-budget money of state bodies on a single treasury account.

In order to  concentrate fiscal expenditures in priority areas of socio-economic development and improve the efficiency of the use of budgetary funds, most of the planned expenditures in the consolidated budget for 2020 are allocated for financing state programs.

Twenty-one socio-economic programs are run by the Government and financed  from the state budget in accordance with the approved list for 2016-2020 (in agreement with President of the Republic of Belarus). So are 16 science and technology programs, 12 national security programs and 12 research programs.

Financing is provided to the state programs that are instrumental in achieving the state policy goals.

The bulk of financing went to the following state socio-economic programs: Education and Youth Policy, Public Health and Demographic Security of the Republic of Belarus, Public Finance Management and Financial Market Regulation, Comfortable Housing and Supportive Environment, Agribusiness, Residential Housing Construction, Social Security, Culture of Belarus, Mitigating Consequences of the Chernobyl Nuclear Power Plant Accident, Innovative Development, The Belarusian Forest, Environmental Protection and Sustainable Use of Natural Resources, Cutting-Edge Technologies and Equipment, Digital Development of Belarus, Energy Conservation, Small and Medium-Sized Enterprises, Physical Education and Sport.