Kazakh president signs amendments to state budget

Business Materials 16 March 2012 15:20 (UTC +04:00)

Azerbaijan, Baku, March 16 /Trend E. Kosolapova/

Kazakh President Nursultan Nazarbayev signed the law of making amendments and supplements to the law of the Republic of Kazakhstan "On state budget for 2012-2014", Novosti-Kazakhstan reported with reference to the Kazakh President's press-service.

According to the amended budget for 2012, the income is determined at 3.615 trillion tenge ($24 billion) compared in the previously approved budget (increase by 306.1 billion tenge). Tax revenues increased by 144.6 billion tenge ($980 million), non-tax revenues rose by 172.1 billion tenge ($1.167 billion), while revenues from fixed assets sales decreased by 10.6 billion tenge ($71 million).

The budget deficit increased by 21.3 billion tenge compared to the previous budget and hit 779.8 billion tenge ($5.29 billion).

Moreover, the national budget expenditures for 2012 were increased due to a guaranteed transfer from the Kazakh National Fund worth 180 billion tenge ($1.22 billion) and optimization of expenditures, which do not ensure economic growth.

Budget expenses are determined at 6.016 trillion tenge ($40.78 billion).

Moreover, Nazarbayev signed amendments to the law "On guaranteed transfer from the Kazakh National Fund for 2012-2014", which will be used for implementation of the President's address to the people of Kazakhstan.