Kazakh Majilis approves amendments to budget for 2012-2014
Azerbaijan, Baku, Oct. 31 / Trend E. Kosolapova/
Kazakh Majilis (Parliament's lower chamber) approved the draft law "On Amendments to the Law of the Republic of Kazakhstan on republican budget for 2012-2014" at the plenary session on Wednesday, Novosti-Kazakhstan reported.
To compensate the expected loss in consolidated revenues in 2012, the budget deficit was increased from 779.8 billion to 983.1 billion tenge (150.66 tenge = $1), or to 3.1 percent of GDP.
Budget expenditures deficit was decreased by 179.5 billion tenge to 5.837 trillion tenge.
According to Finance Minister Bolat Zhamishev, revenues for 2012 were determined at 4.854 trillion tenge, decreasing by 382.8 billion tenge compared to the earlier approved budget.
Excluding transfer of incomes of the amended national budget, revenue is forecasted at 3.212 trillion tenge in 2012 (a 403-billion tenge decrease).