KZT 118 bln agreements concluded within business support program
ALMATY. May 25. KAZINFORM /Dauren Zhailin/ Our goal is to help business, to support it not only in the crisis period but also to lay the foundation for its post-crisis growth. Stimulation of business activity, diversification of economy and establishment of competitive productions, human potential development, supporting socially disadvantaged groups of population are the key components of this growth. Vice Prime Minister of Kazakhstan Serik Akhmetov said during the National Business Forum-2009 spring in Almaty. As the Prime Minister said, the state had allotted additional capital for private sector crediting. KZT 120 bln have been allocated in total for the small and medium businesses support. “To date we have concluded agreements regarding 2390 business-projects worth KZT 118 bln”, the Vice PM highlighted. It should be noted that the country’s second-tier banks are refinancing the loans of small and medium business enterprises at present. As is known, the interest rate was lowered from 18-20% to 12.5%. A tax reform was conducted as well. “Lowering the tax rates for entrepreneurs allows releasing additional funds – approximately KZT 300 bln which can be transferred for business maintaining and development”, he said.