November 4, 2019 / 12:42 PM / 11 days ago

Belarus faces $239 mln budget shortfall in 2020 due to Russian oil tax change

MINSK, Nov 4 (Reuters) - Belarus will face a budget shortfall of $239 million in 2020 because of planned changes to Russian oil taxes, First Deputy Finance Minister Yuri Seliverstov said on Monday.

Moscow had earlier refused a request from Belarus for compensation from a change in Russian oil taxes, known as the oil tax manoeuvre, which envisages a gradual cut to oil export duties over the next few years.

Seliverstov also said that the overall budget shortfall in 2020 was expected to be $850 million. (Reporting by Andrei Makhovsky; Editing by Jon Boyle Writing by Andrey Ostroukh)

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