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Kazakh Vice-Minister of Finance sums up results of 2014, shares plans for 2015

06 january 2015, 13:59
Photo courtesy of newskaz.ru
Photo courtesy of newskaz.ru

Vice-Minister of Finance of Kazakhstan Ruslan Dalenov has spoken about the results of еру year 2014 and the main policy goals for the year 2015, Tengrinews reports citing BNews.kz.

He said that the year 2014 had yielded good results: all finances on a consolidated basis, including the National Fund, remained in surplus. In addition, the Ministry of Finance made a successful Eurobonds issuance, which meant that foreign investors had a positive outlook on Kazakhstan.

He said the first tranche from the National Fund equaling 500 billion tenge (of the overall 1 trillion package) had been put to use to counter the negative influence of external economic factors.

Dalenov also said that priorities were set for the year 2015. He stressed that the entry into force of the Eurasian Economic Union would not lead to unification of prices across the member states.

This is in part because the countries have different tax regimes, regulatory acts, wages, climate, and other major factors that “will not disappear.” According to the Kazakh Vice-Minister, countries that are part to integration organizations “usually seek to eliminate large artificial distortions affecting trade, for example harmonize antitrust regulations, level subsidies, benefits, etc.” Where as prices vary even in the countries of the EU and from region to region in Kazakhstan, he pointed out.

The Vice-Minister then said that in 2015 Kazakhstan would continue its deregulation and business support initiatives, privatization and elimination of bureaucratic barriers.

“Businessmen will continue receiving preferential loans, including from the National Fund. Starting January 1, our citizens will be able to import cars and other goods for business purposes from Russia and Belarus without paying VAT,” he elaborated.

Dalenov reminded that Kazakhstan would start implementing its new program “Nurly Zhol”, which would create thousands jobs and boost infrastructural development.

By Dinara Urazova

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