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Kazakhstan cuts state expenditures by 10 percent

13 february 2015, 01:56
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©Tengrinews illustration
©Tengrinews illustration

State expenditures in Kazakhstan will be reduced by 700 billion tenge ($3.78 billion) in 2015, Tengrinews reports citing President Nursultan Nazarbayev as saying at the extended government meeting that took place in Akorda on February 11.

"We will have austerity measures throughout the economy where possible and optimise the budget expenditures. Let’s put off new initiatives until things go better. This applies to state agencies, local government offices, and national companies. I instruct the government to reduce the expenditures of the 2015 state budget by 700 billion tenge, which is by 10 percent of the total expenditures. This cut should in no way affect the social commitments of the state to the people," Nazarbayev said.

The President also ordered the government to supplement the Nurly Zhol program with new anti-crisis measures. “These are support for the domestic machine building, our exporters, an increase in state support for the agro-industrial sector, measures to support the domestic market. The government should create a reserve for urgent measures. During the year we may have emergency situations. Therefore, I instruct the Government to set aside a reserve in the amount of 250 billion tenge ($1.08 billion)," the President said.

Nazarbayev also instructed the government to reduce the expenditures on the Winter Universiade and the second phase of construction of the Almaty subway. 

"Our expenditures to support banks - 500 billion tenge ($2.70 billion), Winter Universiade - 100 billion tenge ($540 million), subway, the second phase - 27 billion tenge ($146 million). (...) We can wait with the metro and save for schools and kindergartens," he said.

"What cuts can we make in the Universiade funding? We can host a part of its events in Astana and another part there (in Almaty). These are image projects that we have already undertaken and we have to follow through with them. We should look for ways to save money where expenses are big. This is a temporary measure. When things are better we will restart (the projects)," he said.   

The President of Kazakhstan stressed the need to avoid spending on projects that do not have a big impact on ordinary citizens.

Reporting by Altynai Zhumzhumina and Assemgul Kassenova, writing by Dinara Urazova, editing by Tatyana Kuzmina


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