The financial system is a vital element in any state, Belarusian Prime Minister Aleksandr Turchin said at a board meeting of the Belarusian Finance Ministry on 20 March.
“The financial system is the most important element in any state. The way the financial system works largely determines the functioning of the state as a whole and the economy in particular,” Aleksandr Turchin said.
Also Aleksandr Turchin said that the financial system of Belarus was stable despite difficult external economic conditions.
“Assessing the results of 2024, I would like to note that thanks to the systematic work we have managed to fulfill the most important tasks. The country’s financial system is stable and meets the macroeconomic situation, even despite the difficult external economic conditions,” Aleksandr Turchin said.
According to the Belarusian head of Government, the key tasks of the Finance Ministry for 2025 are to ensure a balanced and socially-oriented budget, public debt management and optimization of tax benefits. Improving the efficiency of budget spending remains the most important task for the entire state apparatus.
“The Finance Ministry should act as a coordinator of the country’s fiscal, financial and economic policy, stimulating additional revenues to the budget. Generation of additional budget revenues should be carried out both through improving the tax system and creating conditions for the development of small and medium-sized businesses, developing new production and services facilities,” the Prime Minister said.
The board meeting of the Finance Ministry with the participation of the Prime Minister is expected to review the 2024 budget performance and consider the tasks of the financial bodies for 2025.
According to Finance Minister Yuri Seliverstov, the country’s budget demonstrated balanced performance in 2024, and showed no deficit in January-February 2025.
Photo: BELTA
