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RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of January 3, 2020 No. 3

About approval of the medium-term financial program of the republican budget for 2020-2022

Based on part one of Item 5 of Article 86 of the Budget code of the Republic of Belarus the Council of Ministers of the Republic of Belarus DECIDES:

1. Approve the medium-term financial program of the republican budget for 2020-2022 it (is applied).

2. Determine that the realization of the medium-term financial program of the republican budget for 2020-2022 is enabled taking into account the following measures of budget tax policy:

ensuring stability and balance republican and local budgets within the available income and sources of financing of deficit (the extent of surplus) of the budget;

tax burden of economy of the Republic of Belarus at the level which is not exceeding 26 percent from gross domestic product;

preserving standard rates of contributions from republican taxes to budgets of all levels if other is not established by legal acts;

financing of payments on servicing of public debt for the income account of the republican budget;

financing at least 25 percent of annual need for repayment of public debt at the expense of not debt sources;

preserving social orientation of budgeted expenses;

providing in 2020 decrease in amounts of the budget participation in all types of the state support of real production sector by 10 percent at least.

Prime Minister of the Republic of Belarus

S. Rumas

Approved by the Resolution of Council of Ministers of the Republic of Belarus of January 3, 2020 No. 3

Medium-term financial program of the republican budget for 2020-2022

I. Main indicators

 

Name of indicators

Unit of measure

Years

2020

2021

2022

Key parameters of economic development and the most important monetary indicators of the Republic of Belarus

1. Gross internal product (further – GDP)

one million rubles

 141 874,7

 151 771,7

 162 242,0

2. Growth rates of GDP

percent

101,9

101,4

102,1

3. Index of growth of consumer prices ( on average in year)

"

105,0

104,5

104,0

4. The refunding rate size ( on average in year)

"

9,5

9,25–10

8,5–9,75

5. Belarusian ruble exchange rate in relation to US dollar:

rubles for US dollar

 

 

 

on average in year

 

2,2447

2,3120

2,3675

on the end of the year

 

2,2784

2,3456

2,3894

6. Belarusian ruble exchange rate in relation to Russian ruble:

rubles for 100 Russian rubles

 

 

 

on average in year

 

3,3255

3,3507

3,3582

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