Finance minister comments on Belarus' national budget 2024

Belarusian Finance Minister Yuri Seliverstov spoke about the 2024 budget as he talked to the Belarus 1 TV channel on 5 November, BelTA has learned.

As it has been reported, in 2024 the main tasks for the public finance sector are to ensure economic growth based on improving the efficiency of the use of external and internal resources and reducing regional imbalances. The budget expenditures will remain socially orientated. The priority is education and healthcare and also the measures to improve the quality of life, to support large families. A significant part of the budget will be spent on wages, pensions, scholarships, allowances, other payments, and funds to implement state social standards.

"The priority is well-known: social expenditures,” Yuri Seliverstov said. According to him, more than 40% of the budget goes to this sector, first of all, the payment of salaries. "In terms of doctors' salaries, we have reached an increase of 150%, i.e. their salaries are 1.5 times higher than the average salary across the country," the minister added. “In terms of teachers' salaries, we are yet to meet the 2025 target. Next year, we will be on schedule and will reach almost 96%, and by 2025 it will be a little more than 100%."

According to him, the increase in the expenses on allowances for teachers next year will amount to more than Br400 million (in addition to the general increase in the base rate).

The finance minister also noted that the 20204 budget will run a deficit. "The deficit of the national budget will be about 1.9% of GDP," Yuri Seliverstov said.