Deputies of the Vitebsk Regional Council approved the region's budget for 2018
According to him, in 2017, a positive trend was established in the development of the region's economy. At the same time, not all growth parameters reached the planned level during the year, which affected the budget's revenue. Risks of imbalance were eliminated by concentrating financial resources on key areas, creating reserves, and mobilizing revenues.
Based on the results of the current year, local budgets are balanced, and an overall surplus will be ensured in the region within the established parameters. The draft regional budget for 2018 was formed taking into account the agreed changes in budget and tax legislation, and is based on the parameters of the socio-economic development forecast for the upcoming year and the assessment of the local budget execution in the current year. The main sources of revenue will be personal income tax, value added tax, property tax, and profit tax. Collectively, these payments will form 83% of the budget's revenue part. Above-plan profit tax revenues will become an additional source of financing for the most important areas of the region's development. The total volume of regional revenues is determined at Br1 billion 921 million, an 8% increase compared to the expected execution of the current year. Regional budget revenues are planned at Br741 million.
To balance local budgets, gratuitous transfers from the republican budget will be made to the Vitebsk region budget in 2018. The amount of expenditures of the region's local budgets in 2018 is determined under strict resource saving conditions and will amount to Br1 billion 872 million (an increase of 5%). Regional budget expenditures are set at Br702 million. About 90% of the region's expenditures are linked to specific program activities, which allows for more efficient use of resources and ensures proper control over their use. The budget surplus is intended to cover
performance of debt obligations of local self-government bodies.In general, the budget for 2018 traditionally has a social focus. Almost 70% of the expenditure part is provided for the financing of the social sphere, and expenses that ensure the vital activity of the population (housing and communal services, passenger transportation, etc.) are also taken into account. Financing of the healthcare sector will increase by 11%, physical culture and sports - by 10%, education - by 6%. The concept of expenses for the housing and communal services sector provides for subsidizing only heating and hot water services in 2018. For socially vulnerable categories of the population, non-cash housing subsidies are provided from the budget.
Gennady Grebnev also noted that funds will be concentrated primarily on facilities with a high degree of readiness. Among the most significant are the completion of the reconstruction of the Miory hospital and the construction of the surgical building of the regional oncology dispensary. It is also planned to start the construction of the Trampoline Palace in Vitebsk, a kindergarten and a school in the Bilevo-2 microdistrict. Funds are provided for the continuation of the implementation of projects under the "Clean Water" program.