Belarusian Government Approves Medium-Term Financial Program Through 2028

Belarus’s Council of Ministers has adopted a resolution approving the medium-term financial program for the republican budget for 2026–2028.

As explained by the government’s press service, the program defines the medium-term parameters of the republican budget:

• the total volume of expenditures and revenues,
• the maximum size of the deficit,
• the maximum spending levels for state programs.

The specific values of these parameters were not disclosed in the press release. They will likely become available after the official publication of the resolution.

The program also outlines measures of fiscal policy:

• ensuring the balance of republican and local budgets within available revenues and sources of financing for the deficit (or surplus),
• concentrating budget funds on priority areas of the country’s socio-economic development,
• timely and full repayment of state debt obligations,
• maintaining the tax burden on the Belarusian economy at a level not exceeding 26% of GDP,
• preserving the social orientation of expenditures, implementing measures aimed at improving quality of life, increasing the welfare of public sector employees, and supporting the most vulnerable groups of the population.

“The program was approved in order to ensure the long-term balance of republican and local budgets, fulfillment of the state’s debt obligations, as well as to assess budget risks in order to develop timely measures to minimize them”, the press service added.

Updated 10:30

The Belarusian Finance Ministry commented on the adopted resolution. According to the ministry, Belarus plans to achieve a balanced budget in 2027 and a budget surplus in 2028.