Kazakhstan preparing to make amendments to 2014 budget

Photo: Kazakhstan preparing to make amendments to 2014 budget
 / Economy news

Astana, Kazakhstan, June 20

By Daniar Mukhtarov - Trend:

Kazakhstan's government will amend the budget and make proposals for improving its usage in autumn 2014, according to the Head of Kazakh Cabinet of Ministers, Karim Massimov.

Massimov made the remarks on June 20 at a joint session of Kazakh parliament's chambers.

"We are currently working on a set of measures to be taken to get the effect before late this year while executing the budget for 2014," Massimov said.

He said the government is going to allocate one trillion tenges (183.51 tenge = $1) from the National Fund for the infrastructure development and creation of new enterprises in the manufacturing industry.

"Basically, we have already made decisions regarding our proposals, and in case if they are approved by the head of state, they will be included in the revised budget of 2014," the prime minister said.

Massimov also added that in the first five months there has been some slowdown in exports of main domestic goods producers to Russia and some other countries.

"To avoid this decrease, we plan to set our work in four directions to support the traditional sectors and commodity sectors of the economy, because, major revenues to the budget and national fund are generated with the help of their tax deductions," Massimov said.

"Actually, in the last two to two and a half months, we met with all the major goods producers and listened to the problems they are facing, and the places where we can help them."

The prime minister said the help could be provided to them in the form of some easing in taxation, and settlement of tariff policy. Massimov said support to the processing industry, and the development of innovative and the science intensive economy will be the direction in the government's work.

Edited by CN

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