Majilis approved amendments to 2009-2011 National Budget
ASTANA. April 1. KAZINFORM /Muratbek Makulbekov/ Bill on On amendments to the Law of the Republic of Kazakhstan 'On the National Budget for 2009-2011' has been approved at the plenary session of the Majilis of the Kazakhstan Parliament today, Kazinform reports. Minister of Economy and Budget Planning Bakhyt Sultanov said that the budget was updated in order to ensure further modernization of the economy and execution of the employment strategy for the sustainable development of the country in post-crisis period. The macro-economic indicators for 2009-2011 were reforecast in respest to the tendencies of further global economic slowdown in 2009, the decline in the world demand for resources and preservation of a low level of world prices for Kazakhstan export and the effect of tenge devaluation. Oil prices are expected to remain at USD 40 per barrel in 2009 and USD 50 per barrel in 2010- 2011. Inflation will increase up to 11% by the end of the year. From July 1, 2009 the minimum wage will be increased from KZT 13 470 up to 13 717, basic pension payments Ц from KZT 5 388 up to 5 487, monthly calculation index Ц from KZT 1273 up to KZT 1296 and minimum living wage Ц from KZT 13 470 up to KZT 13 717. Budget income is expected to be KZT 1, 529,482,785, that is KZT 371,150,210 less than in the previous plan. Budget expenditures for 2009 are to make KZT 3,411,041,560 , that is KZT 23,436,928 lower against the previous index.