Section 7. Financial and credit system of the Republic of Belarus
The financial and credit system of the Republic of Belarus shall include the budget system, the banking system, as well as the financial resources of non-budget funds, funds of enterprises, establishments, organizations and citizens.
A unified fiscal, tax, credit and currency policy shall be pursued in the territory of the Republic of Belarus.
The budget system of the Republic of Belarus shall include the national budget and local budgets.
Budget revenue shall be raised from the taxes specified in law, other mandatory payments, as well as other receipts.
National expenditure shall be covered by the national budget on its expenditure side.
In accordance with the law, non-budgetary funds may be created in the Republic of Belarus.
The procedure for drawing up, approving and implementing budgets and public non-budgetary funds shall be determined by the law.
A national account shall be submitted to the Parliament for consideration no later than five months from the end of the fiscal year in review.
Local accounts shall be submitted to the relevant councils of deputies for the consideration within time specified in law.
National and local accounts shall be published.
The banking system of the Republic of Belarus shall consist of the National Bank of the Republic of Belarus and other banks. The National Bank shall regulate credit relations and monetary circulation, determine the procedure for making payments and have an exclusive right to issue money.