Kazakh President approves amendments to state budget for 2013-2015

Photo: Kazakh President approves amendments to state budget for 2013-2015 / Kazakhstan

Azerbaijan, Baku, June 19 / Trend E. Kosolapova/

Kazakh President Nursultan Nazarbayev signed the law on amendments and supplements to the law on republican budget for 2013-2015, Novosti-Kazakhstan reported with the reference to the presidential press-service.

The revised forecast of real GDP growth in 2013 remained at the earlier forecasted level (6 percent), but the forecast for nominal GDP growth dropped from 15.8 percent to 13.5 percent.

The forecast for average oil price in 2013 was increased from $90 to $100 per barrel.

The inflation is forecasted at the earlier approved range of 6-8 percent by the end of 2013.

The transfers to the state budget were increased by 27.206 billion tenge (151.35 tenge = $1) to 1.544 trillion tenge due to attracting of target transfer from the National Fund in the amount of 25.500 billion tenge and transfers from regional budgets in the amount of 1.7 billion tenge.

The state budget's expenditures for 2013 were decreased by 121.288 billion tenge and approved at 6.099 trillion tenge. The budget deficit for 2013 was increased by 85.397 billion tenge and hit 870.573 billion tenge, or 2.5 percent of GDP.

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