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Wednesday, August 5th, 2020

Minister of Finance announces the amount of budget funds allocated for increasing pensions


Minister of Finance of Kazakhstan Bakhyt Sultanov announced the amount of funds that was allocated to increase pensions.

At the presentation of the budget execution for 2016 in the Majilis, the Minister recalled that expenses of the approved budget increased by 980 billion tenge as a result of the two adjustments.

Such an increase in budget expenditures first of all made it possible to increase spending on the social sphere. Half of the expenditures, which is 4 trillion tenge, are social expenses, � Sultanov explained.

In particular, pensions have been increased by 9% since January 1. And 1353 billion tenge was allocated from the budget for pension payments. 290.8 billion tenge was allocated for the introduction of a new model of the labor remuneration system for civil servants. Childbirth benefits were paid to 438.1 thousand recipients. 33 billion tenge was allocated for those payments.

Source: Government of the Republic of Kazakhstan