The law on budget 2016 is signed

Aliaksandr Lukashenka signed the law on the national budget for 2016.

The key areas for development in 2016 will include the export growth and diversification, job creation, enhancement of the efficient use of state property, BelTA informs. The main sources of tax revenue are VAT, excises, and tax revenues from economic activity.

Maintaining financial and social stability and ensuring a balanced economic growth through the development of a competitive economy have been determined as the main tasks for the state finance sector. The 2016 budget will remain socially-oriented with the priority placed on financing education and healthcare. The family capital expenditure will total Br2 trillion next year. A considerable part of the budget will include expenses on salaries, pensions, scholarships, benefits and other payments, and also resources to fund the implementation of state social standards.

Aliaksandr Lukashenka also signed a number of other budget-related regulations for 2016, including the ones on the budget of the state non-budgetary social security fund and the budget of the state non-budgetary fund for civil aviation.