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Thursday, September 24th, 2020

B. Sultanov: additional funds of adjusted budget for 2016 to be applied in priority projects implementation

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Minister of Finance of Kazakhstan reported on the budgetary problems by the year-end at the Governments meeting chaired by the Prime Minister Bakytzhan Sagintayev.

The Minister firstly informed that the budget has been adjusted for 379 billion tenge. New funds to be disbursed are amounting to 589 billion tenge with reallocations taken into account. They will additionally strengthen the economic growth and social projects.

All the administrators have approved plans, 84% of new funds will be disbursed in October and November. The Ministry of Finance has introduced to this end a tracking system at the portal. The public authorities need to complete the registration of contracts and ensure the full disbursement in November, B. Sultanov informed.

As the Minister explained, to ensure a balanced budget, the Ministry of Finance will daily monitor the disbursement of revenues and expenses of the budget, including those of Nurly Zhol program and new funds on the budget revision.

Secondly � there will be set up the works on completion of legalization, ensuring the efficiency and credibility of the participants, and the inventory auditing of the subsidiary organizations will be completed with the aim of transferring into the competitive environment, head of the Ministry informed.

B. Sultanov in the third place noted that the important task is to work out the next years budget. There is a decision of the Republican Budget Commission on approving the draft budget for 2017-2019, and the state agencies can make preliminary procurement plans. Procurements complex from the durations point are advisable to be announced this year.

Thus, we are ready for the full and qualitative completion of the year. All the fiscal measures aimed at addressing the issues of economic sustainability will be taken, the Minister concluded.

Source: Government of the Republic of Kazakhstan

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