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Kazakhstan to amend state budget due to COVID-19 preventive measures

Finance Materials 21 October 2020 11:07 (UTC +04:00)
Kazakhstan to amend state budget due to COVID-19 preventive measures

BAKU, Azerbaijan, Oct 21

By Nargiz Sadikhova – Trend:

Mazhilis (lower house) of Kazakhstan’s Parliament has approved the decree draft on amendments to the state budget for 2020-2022, Trend reports citing Kazakh media.

The main reason for these amendments was to provide material support to medical workers and take proactive measures for a possible second wave of the spread of COVID-19. Thus, additional expenses are provided in the amount of 238.7 billion tenge ($557.6 million). Expenses will be used to make additional payments to medical workers involved in the COVID-19 battle in the total amount of 143.4 billion tenge ($335 million); to pay for medical services in order to prevent the spread of COVID-19 within the guaranteed volume of medical care - 83.2 billion tenge ($194.3 million); for the payment of bonuses to employees of internal affairs bodies for participation in anti-epidemiological measures - 11.7 billion tenge ($27.3 million).

Taking into account the redistribution of funds proposed by the administrators, expenditures in the amount of 261.7 billion tenge ($611.3 million) are envisaged for the development of the real sector of the economy and social support for law enforcement agencies. At the expense of these funds, a number of measures and projects aimed at stimulating production are to be implemented, while also improving the quality of life and increasing the income of the population.

As a result of the amendments, the state budget was formed as follows: revenues to the budget were increased by 185 billion tenge ($432.1 million) and amounted to 12 trillion tenge ($28.03 billion). The deficit of the budget remained at the level of 3.5 percent to GDP. The budget expenditures were increased by 205 billion tenge ($478.9 million) to 14.5 trillion tenge ($33.8 billion).

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