Kazakhstan spends a record breaking amount on defense

Finance Materials 8 May 2019 13:33 (UTC +04:00)

Baku, Azerbaijan, May 8

The expenditures of the government budget of Kazakhstan have increased by annual 19.3 percent in first two months of 2019 and reached nearly two trillion tenge, Trend reports citing Finprom.

"Social assistance and social security are still among the major budget expenditures with 522.7 billion tenge being directed at these spheres in the period of January-February 2019 (increase of 19.5 percent)," the report said.

"It is closely followed by education and health care spheres with allocated funds worth 338.5 billion tenge (+21.2 percent) and 276.5 billion tenge (+11.3 percent) respectively," reads the message.

"Some 136.4 billion tenge was directed at the defense industry during the period of first two months of 2019, compared to 78.9 billion tenge of the same period of last year," said the statement.

In 2018, 542.1 billion tenge of budget was directed at the defense industry, which is a record breaking sum.

in January-February 2019, the percentage of budget expenditures directed at defense industry amounted to 7.1 percent out of the total budget expenditures (4.9 percent in 2018).