Stability and care for citizens: the Minister of Finance on the draft republican budget for 2027

The President of Belarus agreed to submit to the House of Representatives of the National Assembly a budget and tax package of documents for 2027: draft laws “On the Republican Budget for 2027”, “On Amendments to the Tax Code of the Republic of Belarus”, “On the Budget of the State Extra-Budgetary Fund for Social Protection of the Population of the Republic of Belarus for 2027”. Finance Minister Vladislav Tatarinovich told reporters what approaches are laid down in the republican budget for 2027 and what changes are made to the taxation system.

The minister drew attention to:

- The draft law on the republican budget for the next year, as well as the draft amendments to the Tax Code, are being prepared simultaneously and synchronously with the preparation of the main indicators of socio-economic development for the next year and the parameters of monetary policy. And this is not just a logic of action, but an economic necessity. Because the budget parameters are formed on the basis of the target scenario for the development of the economy for the next year. The growth and operation of our enterprises, the work of the economy as a whole, form the tax potential that we may have in the composition of revenues next year. Value added tax and profit tax next year are almost 50 percent of all revenues of the republican budget.

According to the minister, such an indicator as inflation was also taken into account when planning budget revenues and expenditures.

- We traditionally index tax rates and certain elements of taxation, which are set in fixed amounts in Belarusian rubles, according to the same inflation parameter.

Vladislav Tatarinovich noted that the budget is based on the target scenario of economic development. Income growth is natural – it is provided by the development of the economy and consumption. The deficit of the republican budget will not exceed 0.5% of GDP. People are always at the center of the budget. The social orientation is maintained: 44% of the consolidated budget – almost every second ruble – will go to the social sphere.

- Budget revenues in comparable conditions will grow by 6.3 percent, and expenditures will grow by 6 percent. We're not planning any distortions. Obligations of a social nature, which we lay in the formation of the budget, they must be and will be fulfilled, the Minister assured.

The Minister also said that one of the priorities remains the growth of wages:

- In this regard, the measures included in the draft budget for 2027 allow us to ensure wage growth in the public sector. That's about 9 percent. The main measures that will allow this to be done are raising the base rate to 325 rubles. We will continue to optimize the number, staff and number of employees in budgetary organizations so that the funds that will be released remain in the estimates of the relevant budgetary institution and become an additional source of wages through payments, allowances and corresponding supplements.

Vladislav Tatarinovich said that spending on health care in 2027 will grow by 11.3%, on education – by 12%. Roads – an 11 percent increase in spending. Housing – targeted support for large families, orphans and other categories of citizens who need to improve housing conditions is maintained. The budget also contains resources for solving development problems, including those related to strengthening the position of domestic products in foreign markets. As a result, the budget of 2027 preserves everything that has proved to be effective and adds resources to the movement.

Lukashenko agreed to submit to the House of Representatives a budget and tax package of documents for 2027 sichevich@sb.by