Kazakhstan to allocate some $3B for economic development in 2015

Kazakhstan to allocate some $3B for economic development in 2015

Astana, Kazakhstan, Nov.11

By Daniyar Mukhtarov - Trend:

Kazakhstan will allocate 500 billion KZT (around $3 billion) from the National Fund for the further development of economy in 2015, Kazakh President Nursultan Nazarbayev said in his annual address to the country's people on Nov.11.

"As you remember, in February it was decided to allocate 1 trillion KZT (180.91 KZT = $1) in two tranches of 500 billion KZT each to support the economic growth for 2014-2015," the president said.

"I instruct the government to allocate the second trance in the amount of 500 billion KZT to fulfill the further tasks for 2015 in order to complete the ongoing projects and address the urgent issues," he added.

The head of state reminded that for many years, Kazakhstan deposited the revenues from the production and sale of raw materials in the National Fund. Around $10 billion of this amount was spent on fighting against the crisis of 2007 -2009.
"We neither wasted, nor spent the rest of this amount, but preserved and increased it. Now it is time to use these resources for the benefit of the people," he said. "These resources will allow overcoming the difficult times and stimulate our economic growth."

"These resources are not for taking short-term measures, but for the further transformation of our economy," Nazarbayev added.

Kazakh president has instructed to allocate additional 100 billion KZT for the concessional lending to small and medium-sized business and large entrepreneurship.

"This will allow to implement the projects in the food and chemical industry, mechanical engineering, as well as in the sphere of services," Nazarbayev said.

Moreover, the president instructed to ensure the additional capitalization of the Problem-loan Fund in the amount of 250 billion KZT in 2015 in order to improve the banking sector and buy back problem loans.

Nazarbayev added that it is necessary to improve the conditions for attracting new investments. To this end, the head of state instructed to allocate 81 billion KZT in 2015 in order to complete the construction of the first dry port complex, the infrastructure of Khorgos - Eastern Gate special economic zone and Atyrau and Taraz national industrial technology parks.

The head of state also instructed to allocate additional $40 billion KZT in 2015 for lending to the construction of a complex for the EXPO 2017 exhibition. Earlier, 25 billion KZT was allocated for this purpose.

Nazarbayev said the development of transport infrastructure in Astana should be ensured on the eve of the EXPO 2017 exhibition.

"The capacity of the airport in the capital city will hit the maximal level of 3.5 million people in 2014," he said. "In order to increase the potential, I instruct to allocate 29 billion KZT for the construction of a new terminal and reconstruction of the runway. This will allow to increase the capacity to 7.1 million passengers by 2017."

Edited by CN

South Korean PM to visit Iran for Seoul-Tehran Cooperation
South Korean PM to visit Iran for Seoul-Tehran Cooperation
Iran, Turkmenistan strike deal on co-op in a number of fields (PHOTO/VIDEO)
Iran, Turkmenistan strike deal on co-op in a number of fields (PHOTO/VIDEO)
Iran and Kazakhstan sign cooperation document (PHOTO/VIDEO)
Iran and Kazakhstan sign cooperation document (PHOTO/VIDEO)
Loading Bars
IMF, World Bank urged to contain pandemic with fair, efficient distribution of vaccines
South Korean battery makers agree last-minute deal in boost to Biden's EV policy
Egypt, Sudan reject Ethiopian proposal for data sharing on Renaissance dam
Bezos, Musk top Forbes' record-setting billionaire list
Turkey registers more than 52 600 new coronavirus cases
China-Brunei trade grows by over 70 pct in 2020
Argentina's economy minister heads to Europe to woo finance officials over debts
US boosts imports of Turkish-made clothes
Turkey sends off 2nd boron export train to China
First kidney transplant performed in Turkmenistan
Bahar Azadi gold coin price continues to fall in Iran
Iran unveils data of gasoline and petrochemicals exports
New transmission line to provide opportunities for both Georgia’s and EU energy network - expert
Weekly review of key events in Azerbaijan's transport sector
China fines Alibaba record $2.75 billion for anti-monopoly violations
Italy reports 344 coronavirus deaths on Saturday, 17,567 new cases
Azercell’s “Kabinetim” mobile app exceeded 1 million downloads
Pakistani FM to visit Tehran
Funeral for UK's Prince Philip to be held on April 17
Pinterest becomes latest platform to appoint Turkey representative
Italy's economy seen growing 4.1% this year
Volume of cargo loaded, unloaded in Iran’s Bandar Lengeh port announced
Turkmenistan’s growth of trade turnover in 1Q2021 announced
Turkish electrical goods' 1Q2021 export to Uzbekistan spikes
Azerbaijani president's assistant talks Turkic Council media co-op's systematization
Hungary considers Turkic Council member states important partners
Iran's Energy Exchange announces products to be on sale on April 11
Uzbekistan ready to actively partake in restoring Azerbaijan's liberated territories
Azerbaijan confirms 2,192 more COVID-19 cases, 1,554 recoveries
Turkey did its best in media coverage of Azerbaijan's Patriotic war - presidential administration
Azerbaijani president's assistant meets with Turkic Council's secretary-general
Briefing of Turkic Council's high-ranking media officials held in Baku (VIDEO)
Anti-Turkic campaigns periodically carried out - Azerbaijani president's assistant
Azerbaijan's victory in Second Karabakh War is victory for entire Turkic world - top official
Azerbaijan working to develop ties between Turkic states - president's assistant
Turkic Council developing roadmap for better co-op with Turkic-speaking countries
Turkic-speaking countries to continue to support Azerbaijan - Turkic Council
Armenia's refusal to provide maps of mines on Azerbaijan's lands is concerning - ambassador
Turkic Council's meeting held in Baku (PHOTO)
Iran reveals COVID-19 data for April 10
Kazakh, Uzbek PMs launch construction of new 'Central Asia' int'l co-op center
Turkish Ambassador: I've never separated Azerbaijan and Turkey, both are homeland to me
Buta Airways to Start Operating Flights to Zhukovsky Airport
Turkey's support for Azerbaijan in Karabakh war will always be in our memory - President Aliyev
Azerbaijan's MoD organizes visit for foreign military attaches to Air Force military unit
Turkish-Azerbaijani fraternal relations are at highest level today - President Aliyev
Iran's exports via Jolfa border checkpoint increase
Georgia reports 506 new coronavirus cases for April 10
SOCAR's capex to moderate due to SGC, STAR refinery’s commissioning
Certain licenses issued to setting up enterprises in Iran's Markazi Province
Turkey unveils 2M2021 data on freight, passenger traffic through Ankara Esenboga Airport
Azerbaijani oil prices up
Fitch Affirms SOCAR at 'BB+'
Turkmenistan's state budget revenues surpass initial forecast
Georgian TBC Leasing's secured debt rating equalizes with its Long-Term IDR
Azerbaijani president awards former Turkish ambassador with 'Dostlug' order
President Ilham Aliyev receives Turkish Ambassador to Azerbaijan Erkan Ozoral (PHOTO)
Turkmenistan's GDP grows in 1Q2021
Weekly review of Azerbaijani currency market
Iranian currency rates for April 10
Azerbaijan has favorable investment climate - Turkish MUSIAD
Azerbaijani Mine Action Agency continues to clear Gubadly, Zangilan, Jabrayil from mines
India reports a record 145,384 COVID-19 infections
Armenia set up booby traps on Azerbaijan's de-occupied lands - Mine Action Agency
Azerbaijan's rhythmic gymnasts 2-nd in online tournament organized by Finnish Gymnastics Federation
Azerbaijani gymnastics team captures silver in Egypt (PHOTO)
China's top market regulator imposes penalty on Alibaba Group over monopoly conduct
Iran's Isfahan producing 2,100 tons of medicinal herbs
Japanese entrepreneurs intend to increase imports of Kyrgyz honey
Austrian companies eye contribution to Georgian ports' expansion - ministry
Turkey reports 55,791 new COVID-19 cases
Germany to amend law for nationwide COVID-19 response
World Bank says Azerbaijan's consumer market to grow till 2023
Janssen's COVID-19 vaccine under EU review over blood clots
Number of COVID-2019 cases across globe up by over 718,000 in past day, says WHO
Poland's COVID-19 cases top 2.5 mln
Georgian-Lithuanian co-op facilitates freight transport between China, Europe - Ministry
US accelerator to provide Azerbaijani startup project with big investments
Eurowings to start flights from Dusseldorf to Georgia
NASA's Mars helicopter to attempt first flight
Health Minister hails vaccination in driving down COVID-19 severity in Turkey
Saudi-led coalition intercepts bomb-laden drone towards border city
Azerbaijani president expresses condolences to PM of UK
UN interested in intensifying ties with Azerbaijan - President of General Assembly
Azerbaijani FM, Sec-Gen of Turkic Council discuss issues of mutual interest (PHOTO)
"Georgia Capital" investment company to sell part of its business
Iran's only option on negotiation table - US lifting sanction - Iran’s ambassador to IAEA
Turkmen Helath Ministry opens tender for purchase of medical supplies
South Korean PM to visit Iran for Seoul-Tehran Cooperation
Speaker of Azerbaijani parliament meets with president of 75th session of UN General Assembly (PHOTO)
Azerbaijani president expresses condolences to Queen Elizabeth II
Azerbaijan clearing territory for new settlement of mines in Zangilan district
Azerbaijan aims developing use of wind energy
Russian, Turkish presidents call for restoration of transport infrastructure of South Caucasus
Azerbaijan actively participates in implementation of int’l projects within BTK and North-South corridors
State Oil Company of Azerbaijan digitizes information on oil and gas wells in corporate database
Azerbaijani, Turkish armies Joint Operational-Tactical Exercises end (PHOTO/VIDEO)
International Bank of Azerbaijan opens tender to buy network equipment
Russia always ready for settlement option supported by sides of Karabakh conflict - Foreign Ministry
State Oil Company of Azerbaijan hosts opening ceremony of Visualization Center (PHOTO)
All news