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55 billion tenge disbursed over 9 months for needs of the regions

by October 25, 2016 Fun

Minister of Finance of Kazakhstan Bakhyt Sultanov reported at the Governments meeting on the execution of budget over the 9 months of 2016.

As the Minister informed, new tools for financial interaction have been applied to stimulate the regional economies.

This year, republican budget has for the first time allocated transfers to local budgets for economic sustainability. The year amount is 80 billion tenge. 55 billion tenge has been applied over 9 months for the current needs of the regions. This stabilized the regional budgets, B. Sultanov noted.

Also all the regions were for the first time given the opportunity of lending from the domestic capital market. Local authorities have issued securities in the amount of 38 billion tenge for housing construction. 10 billion tenge has been already disbursed, while 28 billion tenge needs to be expended by the year-end.

Due to transfers and own funds, the local budgets have commissioned 284,000 square meters of housing, 145,000 thousand people have been employed and 7,000 people obtained microcredits upon employment roadmap, B. Sultanov presented.

In general, the regions have received transfers and credits from the national budget in the amount of 1,146 billion tenge, which is 38% more than a year ago (749,4 billion tenge). 1,106 billion tenge or 96.6% has been disbursed.

Source: Government of the Republic of Kazakhstan