Transcript REPUBLIC OF BELARUS General financial statistic November 2013 Budget Policy Department Belarus at a Glance Area: 207,600 km2 Population: 9.46 million (as of December 31, 2012) GDP in.

REPUBLIC OF BELARUS
General financial statistic
November 2013
Budget Policy Department
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Belarus at a Glance
Area:
207,600 km2
Population:
9.46 million (as of December 31, 2012)
GDP in 2009:
≈$63 billion
Currency:
Belarusian ruble (BYR), 1 USD = 9090 BYR*
LATVIA
RUSSIA
LITHUANIA
BELARUS
POLAND
UKRAINE
CZECH REP.
SLOVAKIA
Key Historical Events
Independence
1991
Membership in
the CIS, IMF and
World Bank
Signing the Treaty on
Establishing the Union State
of Belarus and Russia
1997
2000
Agreeing on a $3.5 bn IMF
SBA programme
2007
2009
Acquiring credit
Creation of the EurAsEC
ratings
issued by
(Belarus, Russia, Kazakhstan,
S&P
and
Moody’s
Kirgizia, Tajikistan)
Creation of the
Customs Union of
Belarus, Russia and
Kazakhstan
2010
Joining the EU Eastern
Partnership initiative
Creation of a common
economic area of
Belarus, Russia and
Kazakhstan
2011
2015
Hockey
championship to be
held in Minsk
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* As of October 1, 2013
Belarus: the main directions of development
•Socially-oriented market economy. Developed export-oriented
industry is the basis of the economy
•Highly qualified workforce. Belarus ranks the 50th in the UN
human development index
•High rates of economic growth prior to 2010
•The stability of monetary and banking system has been
maintained throughout the crisis.
•A $3.5 bn SBA program has been successfully implemented
with the IMF
•Sustainable public finances – Belarus has a traditionally
balanced budget and low debt burden indicators
•The Government has introduced a package of tax incentives in
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response to the crisis
Relationship with EU: Broadening Dialogue
• Dialogue extended along the entire spectrum of bilateral cooperation
•Joining the EU Eastern Partnership initiative (2009)
•About 27 percent of Russian oil and 25 percent of Russian gas exports
to the EU pass through Belarus
• Belarus is a member of the United Nations ("UN"), the CIS, the OSCE,
the North Atlantic Treaty Organization's program ("NATO") "Partnership
for Peace", the IMF, the World Bank, the EBRD, as well as a number of
other international organizations
•EU - one of the main markets for Belarusian exports and the main
providers of technical and humanitarian assistance. Budget aid programs
financed by the EU funds has increased from 5 million euros per year in
2007-2008 to 17 million euros earmarked for 2012
•Republic of Belarus has trade agreements with some EU countries such
as Britain, Germany, Italy, France, Belgium, the Netherlands
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Belarus is a member of IMF
•Belarus is a member of IMF since 1992
•The Ministry of Finance is an official
representative of the country
•As a member of the IMF, the Republic of
Belarus has the commitment to inform the
world community about the economic activities
of the state, in particular, to provide data on
government finance statistics.
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Structure of general government
in the Republic of Belarus
General government in the Republic of Belarus :
• Central government
Subsector
1. Central government units
covered by the budget, including extra-budgetary
funds (ministries, committees and other budgetary
organizations financed from republican budget);
Subsector 2. Extrabudgetary units/entities
(concerns)
Subsector 3. Social Protection Fund of the
Population
• Local governments (oblast/provincial (6), City of
Minsk (1), oblast cities (12), rayon/districts (118),
rayon cities (14), settlement /townships budgets (55) ,
rural (1275) and other budgetary organizations
financed from local budgets)
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Structure of the public sector
government in the Republic of Belarus
The public sector :
•The non-financial public sector
- General government ( previous slide)
- Public nonfinancial corporations
( Republican (about 600) and utilities ( about 2100 ) unitary
enterprises , public nonfinancial corporations, in which the
state owns more than 50 percent of the voting shares ( 1500 ) )
•public financial corporation
- The National Bank of the Republic of Belarus
- Government deposit-taking institutions , except the
Central Bank (4 )
- Other state financial corporations
(State insurance companies and insurance companies with a
share of state ownership in the share capital of more than 50
percent, as well as other public financial corporation in which
the state owns more than 50 percent of the voting shares) . 7
Analytical Framework GFSM 2001
Statement of
operations
Revenue
•Stock positions
Opening
Balance Sheet
-
Statement of Other
Expense
Economic Flows
•Stock positions
Closing
Balance Sheet
=
Change in net
Net worth
=
Nonfinancial
assets
+
Financial assets
Change in networth
=
=
Transactions in
Liabilities
Net worth
=
Transactions in
nonfinancial
Nonfinancial
nonfinancial
assets
assets
assets
+
Transactions in
financial assets
-
worth
-
+
Transactions in
financial assets
-
Transactions in
Transactions in
liabilities
liabilities
•Flows
+
Financial assets
Liabilities
•Flows
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Отчет об операциях согласно СГФ
Revenue
-
Expense
=
Net/gross operating balance
-
TRANSACTIONS IN NONFINANCIAL ASSETS
=
Net lending (+) / Net borrowing (–)
-
TRANSACTIONS IN FINANCIAL ASSETS
+
TRANSACTIONS IN LIABILITIES
= zero (in a view of double-entry accounting)
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STATEMENT OF GOVERNMENT OPERATIONS COMPARED TO FISCAL
CLASSIFICATION OF BELARUS
STATEMENT OF GOVERNMENT
OPERATIONS
General government
Revenue
Revenue
minus
Expense
Revenues from
minus
Sales state property
Expense
= Net/gross
operating balance
minus
Capital expenditure
= balance
Overal funding
deficit
Nonfinancial
assets
= Net lending (+) /
Net borrowing (–)
Provision of loan
and budget
Social Protection Fund
Financial assets
• cash assets
• other fin.assets
minus
Extrabudgetary funds
Liabilities
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The relationship GFS (methodology RSGF2001) with reports on budget execution
GFS data
Data reporting
Excluding revenues from
Revenue С1
minus
Expense C2
= net inflow Cash flows
from operating activities
implementation of state property
Revenue
Revenues from sales state property
Current expenditures plus capital transfers
minus
The acquisition of
non-financial assets С31.1
minus
Disposals of
non-financial assets
С31.2
= investment in NFA
plus
Adoption liabilities С33
minus
Acquisition financial
assets
С32
= cash flow from financing
activities
equal
Net change in
inventories cash
С3212
Capital investments in fixed funds
(except overhaul) creation of the state
of stocks and reserves, land acquisition
and intangible assets
Expense
Providing loans, budgetary loans,
budget loans minus repayments
Power derived from National Bank
of the Republic of Belarus,
sources derived from banks
and other legal and individuals
Sources of external funding
Sources from operations belonging
state property
Overal funding deficit
Other borrowings internal financing
Operations on due foreign,
changing balances the budget
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Issues requiring further
consideration
•
•
•
•
Forest Resources Assessment ( conducted
on the basis of expert assessment of their
value in a conventionally accepted value of a
unit )
Evaluation of mineral resources ( is
mandatory only for deposits of strategic
minerals) Valuation of Mineral Resources (
no methodological basis for calculation)
The valuation of the company's financial
assets and liabilities (applicable assessment
at face value)
Cadastral valuation of land (in case of for
various purposes consolidated result as the
cost of land in the Republic of Belarus is not
defined )
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THANK YOU FOR YOUR
ATTENTION
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