Page 23 - BELRptFeb19

5.3 FDI
Belarus -FDI 2010 2011 2012 2013 2014 2015 2016
FDI Net (BoP) -1,343 -3,877 -1,308 -1,984 -1,789 -1,546 -1,124
FDI net inflows (BoP)
1,393 4,002 1,464 2,246 1,862 1,652 1,247
FDI net inflows (% of GDP) 2.43 6.48 2.23 2.97 2.36 2.93 2.63
FDI net outflows (% of GDP) 0.09 0.20 0.24 0.35 0.09 0.19 0.26
In 2017 foreign investors injected $9.7bn into Belarus' economy (except for banks), says the National Statistics Committee of Belarus. The primary investors were from Russia (38% of the total investment), the United Kingdom (26.6%), and Cyprus (7.2%). Foreign direct investment made up $7.6bn, or 78.5% of the total. In 2017 Belarusian economic operators (except for banks) transferred $5.5bn in investments abroad. Considerable sums were channeled into economic operators in Russia (66.9% of the total outgoing investments), Ukraine (17.3%), and the UK (7.6%). Direct investments accounted for 93.8% of the total outgoing investments.
6.0 Public Sector 6.1 Budget
Belarus’s budget surplus exceeded $2bn in equivalent in 2018, Finance Minister Maksim Yermolovich told reporters on 25 January. “This is pretty good; this allows us to be optimistic about the future regardless of developments in the global economy,” Yermolovich said. The surplus was achieved due to two major factors – an overall economic policy by the government and a balanced and prudent fiscal policy aimed, among other things, at more efficient management of public funds. “The combination of these factors has resulted in higher revenues and efficient public spending,” the minister noted.
The surplus was BYN5.6bn in January-November 2018 , the Finance Ministry said earlier. Revenues of the central state budget totalled BYN22.1bn or 104.9% of the revised annual target. Proceeds from VAT amounted to BYN10bn (98.7% of the target), excise duties – BYN2.4bn (97.8%). Revenues from foreign trade operations totalled BYN5.1bn (130.8%). In January-November 2018 the central state budget spent BYN16.5bn (78.6%). As much as BYN6.9bn (68.3%) was spent on nationwide activities, BYN3.9bn (84.4%) on financing the national economy, BYN12.5bn (86.4%) on financing the social sphere (social policy, education, healthcare, physical training, sport, culture, and mass media). The surplus of the state administration sector budget totalled BYN6.6bn in January-November 2018. Revenues made up BYN46.2bn, or 99.3% of the revised annual target. Expenses stood at BYN39.6bn, or 84.8%. The surplus of the Social Protection Fund budget reached BYN0.3bn, that of the Universal Service Fund – BYN25.8mn, the Civil Aviation Fund – BYN10.4mn, the Punishment Execution Department Fund –
23 BELARUS Country Report February 2019 www.intellinews.com