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Republican budget for 2009 to be cut down by 301 billion KZT

Astana. November 27. Kazakhstan Today - The Minister of Economics and Budgetary Planning of Kazakhstan, Bahyt Sultanov informed on reduction of Republican budget for 2009 by 301 billion KZT at the plenary session of the Senate of Parliament on Monday, the agency reports. B. Sultanov said, "The changed forecast of revenue for the republican budget in connection with the changes of macroeconomic parameters for 2009 will total 1 900.6 billion KZT." He added, "The previous forecasts of revenue have been reduced by 151 billion KZT as a result of the decrease of the forecasted macroeconomic parameters by 80 billion KZT due to expansion in the project of the new Tax Code of investment tax preferences for non raw sector of economy." According to the Minister of Economics, the changed forecast of revenue of the National fund at 40 USD per barrel will reach 954 billion KZT in 2009, or will be reduced by 498.1 billion KZT." He specified, "In 2010 - 2011 the amended forecast of the revenue of the Republican budget will make 2 017.5 billion KZT and 2 177.8 billion KZT, or by 444.1 billion KZT and 622.9 billion KZT less than in the bill, which was presented to the Senate of Parliament." B. Sultanov noted that the IMF forecasts decrease in the rates of economic growth from 3.7 % in 2008 down to 2.2 % in 2009.

Resourse: Kazakhstan Today

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