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Ministry of Finance of Kazakhstan expects full disbursement of funds at infrastructure facilities

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by September 30, 2016 Key Issues

The Ministry of Finance of Kazakhstan expects full application of funds allocated for construction of infrastructure facilities. Minister of Finance of Kazakhstan Bakhyt Sultanov informed while presenting a draft law “On amendments and additions to the Law “On republican budget for 2016-2018.

“We control spending of funds allocated for construction of infrastructure facilities. We collaborated with the regions and central authorities. In addition, we will apply, on the one hand – “manual” control, on the other hand – a systematic analysis of the situation. We have created a special information system that will reflect information from all regions and ministries. Every week we will hold teleconference meetings. By the year-end, we expect application of the allocated fund for 100 percent,” B.Sultanov said.

According to him, the Ministry has a detailed list of infrastructure facilities that get financing from the budget. Each object has a design and estimate documentation, on which the budget was developed.

According to the Minister, republican budget revenues, excluding transfers, estimated at 4 200.2 billion tenge in 2016, that is for 834.9 billion tenge more than the approved plan. In this purpose the amount of the guaranteed transfer from the National Fund was reduced to 6.9 billion US dollars instead of 8 billion US dollars. Republican budget expenditures in 2016 will amount to 8 646.7 billion tenge or 379.9 billion tenge more than the revised plan.

Source: Government of the Republic of Kazakhstan

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