Belarus’ Finance Minister on importance of approved state budget for 2025: country’s main financial plan
The Law On the Republican Budget for 2025 signed by President of Belarus Aleksandr Lukashenko is the main financial plan of the state – as noted by Finance Minister Yuri Seliverstov in his talk with Belarus 1 TV channel
“The budget is the main financial plan of the state. Our country has adopted a number of programme documents: from the programme of socio-economic development to programmes that determine priorities in each direction and sphere of activity. The budget is the source of funding for many of these areas. That’s why, its adoption before the beginning of the year shows that the sources have been identified. There are clear and understandable amounts that can be used to implement programme documents as early as January,” the Finance Minister explained the importance of the adopted law for the Belarusian economy.
Mr. Seliverstov emphasised that the social orientation of the state budget in our country will be preserved next year, “The budget is formed for a year, while the fundamental documents – the sustainable development strategy and the socio-economic development programme – have a broader scope and are approved by the Belarusian People’s Congress. All the priorities for wage growth and the development of certain industries are spelled out there. We cannot move away from these documents and are obliged to fulfil them.”
The Finance Minister noted that Belarus has effective measures to prevent misuse of budget funds, “The state treasury system has been formed and a certain algorithm has been worked out. There is a system of state procurement, tenders, selection of contractors: a whole range of activities that must be observed. Any recipient of budgetary funds must submit to the treasury documents that show that all these procedures have been passed. And then payment documents, e.g., for the purchase of scientific equipment, will be paid for. And the money will be paid into the accounts of the equipment suppliers with whom the contract has been concluded. At the same time, suppliers often have to confirm that the equipment has already been delivered to the budget organisation concerned.”
Preliminary control makes it possible to avoid misuse of funds and to control the whole selection process even before the money is transferred. “First the documents, then the money,” Mr. Seliverstov emphasised.
