Income to pay off external debt

Budget for 2015 planned with net surplus

By Svetlana Savkova

Budget for 2015 planned with net surplus


According to the Deputy Finance Minister of Belarus, Maxim Yermolovich, revenue received from duty on oil products made with Russian oil is to be used to settle external state obligations. He emphasises, “The forecast volume of duties received into the Belarusian budget in 2015 will be sent directly to pay off state debt.”

Duty volumes depend on oil prices and, accordingly, export duty rates, with various instruments used to generate $1.5bn to $2bn in revenue. This will be used to pay off external state obligations in 2015.
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