Kazakhstan increases rates for crude oil export customs duty
Astana, Kazakhstan, March 11
By Daniar Mukhtarov - Trend:
The export customs duty for crude oil will grow in Kazakhstan by $20 - from $60 to $80 per ton, Kazakh Economy and Budget Planning Minister, Yerbolat Dossayev said on March 11.
"The national budget revenues will increase by 505.5 billion tenges ($1-182.09 tenge) by means of increasing the rate of export customs duty on crude oil from $60 to $80 per ton, according to forecasts," Dossayev said.
He said the country's budget revenues will increase by a total of 303.3 billion tenges thanks to the growth of tenge's exchange rate compared to the dollar.
Dossayev added that the budget's incomes will influence the change in oil prices.
"The average oil price in 2014 will stand at $105.1 per barrel, according to forecasts by international organizations. Given the strengthening of the U.S. dollar, the average price was set at $95 during refinement of forecasts for 2014," the minister said.
He reminded that previously the oil price was budgeted at the level of $90 per barrel.
Translated by E.A.