Nazarbayev instructed to set barrier to shadow economy

Nazarbayev instructed to set a barrier to shadow economy, Tengrinews.kz reports. “An important task is to create legislative barriers for the shadow economy and any attempts to take the budget funds into the shade. Shadow economy is pretty big and the government has to work in this direction,” Kazakhstan President said at the opening of the second session of the Parliament. Speaking of the coming draft 3-year budget, Nazarbayev noted the following: “Amid complications of the global economic situation, there may be only one approach to forming the budget: cost effectiveness and proficiency of budget expenses. "In line with my instruction, the government has already decreased the budget costs by 57 billion tenge ($380 million). I think that there are more reserves for a further decrease and more budget savings. "The expenses that do not provide for economic growth and employment of the population should not be made part of the budget. The government has to continue the analyses of the state programs and, if the latter yield no results, the funds should be redistributed to other sectors and projects. We all have to learn, everyone here in the center and in all our regions. "We should work as a corporation. Every tenge has to yield results; if it doesn't then we are not doing a good job. Every dollar should produce results. If there is none, than we are spending the money unwisely and the end contractors are using the funds incorrectly. We need to enhance the financial discipline in general.” Nazarbayev reminded that the total amount of money from the state budget that was spent with violations in 2011 made 300 billion tenge ($2 billion). 6 political and over 130 administrative officials were brought to responsibility. He called the parliament deputies and Nur Otan party to strictly approach violations of the financial discipline. By Renat Tashkinbayev