Baku, Azerbaijan, Aug. 29
Trend:
Kazakhstan's budget has been recalculated at 350 tenge per US dollar, the Minister of National Economy of Kazakhstan Timur Suleimenov said.
The members of the Cabinet of Ministers have discussed the forecast of socio-economic development of Kazakhstan for 2019-2023, as well as the draft laws of the Republic of Kazakhstan on the Central Government Budget for 2019-2021 and on the guaranteed transfer from the National Fund of Kazakhstan for 2019-2021.
"We are pricing $60 per barrel for the next three years. As you know, we have this indicator on a rolling basis, and we have the opportunity to review these parameters. As for the currency exchange rate, we do not predict the currency exchange rate, this is a clearing rate, we apply free floating mode for currency exchange rates. The rate that we use for the formation of the draft budget is 350 tenge per US dollar for the next year," Suleimenov told reporters after the government meeting.
He said there will be no radical changes in the budget.
"As always, we have a socially oriented budget, the main part of the costs is aimed at maintaining our standard of living of every citizen of Kazakhstan, there is also a part entitled as the development budget, which is, of course, aimed at the implementation of state programs, development of agro-industrial complex, small and medium-sized businesses. That is, there are no fundamental changes," he stressed.