Kazakhstan expects increase of income to state budget
Kazakhstan, Astana, October 31/ Trend D.Mukhtarov /
The Kazakh government approved a bill on the specification of the republican budget for 2013-2015 on Thursday.
The country's Minister of Economy and Budget Planning Erbolat Dosaev made reference in his report to the proposed corrections to Kazakhstan's budget for 2013-2015.
He stressed that "proposals on specification of the republican budget for 2013 were formulated on the basis of correction of the prognosis for macroeconomic indicators and specification of calculations on spending for nine months of 2013, as well as by taking into account the decrees of the country's president announced at the governmental meeting on October 11 this year".
"The main task of this specification is the rational use of additional income anticipated for the results of the year," the minister said focusing on the major changes in the prognosis of the socio-economic development in 2013.
According to him, "the nominal volume of the GDP in 2013 will be 34 444.3 trillion tenge ($ 1 -154 tenge), which exceeds the rate approved in May by 153.3 billion tenge. In total, the real GDP growth in Kazakhstan in 2013 is anticipated at the planned level of six per cent. The parameters on inflation are being kept at the earlier anticipated level of six to eight for the year end".
According to Dosaev, "Republican budget revenues, excluding transfers in 2013 are estimated at 3 608.3 trillion tenge which is higher than the approved plan by 20 billion tenge. The size of the guaranteed transfer from the National Fund is being maintained at the approved level of 1 380 billion tenge. In connection with the increased forecast on oil prices, the income from the oil sector to the National Fund will increase by 407.3 billion tenge and total $ 3.4 trillion tenge".
According to the minister, it is proposed "to reduce the budget deficit by 80 billion tenge from 870.6 billion tenge to 790.6 billion tenge, or to 2.3 per cent of the GDP. It is also proposed to optimise the spending of the republican budget to 6 033.4 trillion tenge, or by 65.6 billion tenge.
"In total, the decrease in spending will be 165.8 billion tenge and part of these funds will be sent to the construction of the Zhezkazgan Beineu railway, with an increase in the authorised capital of Baiterek NMH JSC and preparations for holding EXPO-2017 and other projects," Dosaev said.
The bill on specification of the republican budget for 2013-2015 is planned to be submitted to the Majilis (lower chamber) of the Parliament of Kazakhstan until November 5, 2013.