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Parameters of republican budget made $5 billion - Sultanov

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16:29 21.10.2008
text: "Kazakhstan Today"
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Astana. October 21. Kazakhstan Today - The parameters of the republican budget have reached the sum of $ 5 billion due to target transfer from the National fund. The Minister of Economics and Budgetary Planning of Kazakhstan, Bahyt Sultanov, stated today at the government session, the agency reports.

"As a whole, the parameters of the republican budget have totaled 607.5 billion KZT ($5 billion) due to target transfer from the National fund for formation of the authorized capital of the Fund of National Welfare Samruk-Kazyna and as a result will make: income - 3 trillion 37 billion KZT (21 % of GDP), expenditures - 3 trillion 671 billion KZT (23.1 % of GDP), deficit remains at the approved level and will make 334.4 billion KZT (2.1 % of GDP)," B. Sultanov said.

The bill on amendments and additions to the Law of Kazakhstan on the Republican Budget for 2008 provides the measures directed at capitalization of the Fund of stressful assets. "The Ministry of Economics along with managers of the republican budgetary programs and the Ministry of Finance conducted audit, as a result of which expenses of the republican budget have been cut down, including taking into account of the expected non-used budgetary funds at the sum of 32 billion KZT and the government reserve for urgent needs at the rate of 20 billion KZT," he explained.

"As a result, 52 billion KZT will be directed for capitalization of the Fund of stressful assets with the purpose of increasing of its size in 2009 up to $1 billion," B. Sultanov specified.

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