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President Nazarbayev calls to spend within capacities to bring the budget deficit to its possible minimum

14 december 2012, 16:15
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Kazakhstan President Nursultan Nazarbayev. ©akorda.kz
Kazakhstan President Nursultan Nazarbayev. ©akorda.kz
The major task of the Government and the National Bank in terms of monetary policy will be to ensure protection of people’s income stability and to curb inflation, Newskaz.ru reports, citing President Nazarbayev as saying at a solemn meeting to celebrate the 21th anniversary of the nation’s independence December 14.

“The major principle of the budgeting policy will be spending within capacities, with the budget deficit to be brought to its possible minimum. Every piece of public money should pay off; we need to build up the nation’s reserves and ensure their safety”, President said.

“We need a favorable tax regime to support industrial production, new technologies and overall industrialization efforts. I set the task for the Government to revisit all the current tax incentives and make sure they are effectively used”, he said.

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