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55 billion tenge is implemented for the needs of the regions for the first 9 months

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by October 25, 2016 Legal

According to the Minister, new instruments of financial cooperation were applied to stimulate regional economies.
“Transfers for economic stability were allocated from the national level to the local this year budgets for the first time. The annual amount made 80 billion tenge. During the first 9 months, 55 billion tenge has been already spent for the current needs of the regions. It stabilized the regional budgets,” B.Sultanov said.
For the first time all regions were given the opportunity to borrow on the domestic capital market. Local authorities have issued securities in the amount of 38 billion tenge for housing construction. So far, 10 billion tenge was disbursed and 28 billion tenge will be implemented by the end of the year.
“284 thousand square meters of housing were put into operation due to the transfer of own funds and local budgets. 145 thousand people were employed and 7 thousand people received micro credits within Employment Roadmap program,” B.Sultanov reported.
In general, the regions received transfers and loans in the amount of 1 146 billion tenge from the national level. This is 38% more than a year ago (when it was 749.4 billion tenge). 1106 billion tenge or 96.6% was disbursed.

Source: The Prime Minister of Kazakhstan

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