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24 Apr 2018

Belarus president calls for annual increase in social spending

MINSK, 24 April (BelTA) – Social spending in the country will be gradually increased on a yearly basis, Belarus President Alexander Lukashenko said in his State of the Nation Address on 24 April, BelTA has learned.

According to the president, the government’s insufficient management of the economy has a direct impact on the country’s fiscal policy. “My instruction is to increase the share of the budgetary expenditure for social protection every year. Only through this will we be able to boost the birth rate, support families with many children, elderly people, all those who really need the government’s attention,” the Belarusian leader said.

Budget revenues are mainly formed by money that come from the population (income tax, customs duties, excise tax, VAT). “This is the model of rich countries, however,” the president said.

The Belarusian leader added that among those who must replenish the budget are the companies that actively consume its resources (including state support and budgetary loans). “We need to give this money back to people,” he said.

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