15.06.2018, 16:41 4202

Kazakhstan's Minister of Finance told state's expenses on social obligations

According to the Ministry of Finance of Kazakhstan, the total expenses of the republican budget for 2017 were 11 trillion 156 billion tenge.
The Minister of Finance of the Republic of Kazakhstan, Bakhyt Sultanov, told about fulfillment of the republic budget for 2017 at the joint session of the Chambers of the Parliament.

The Minister noted that the main tasks of the fulfilment of the republican budget for 2017 were the remaining the positive dynamics of economic growth and social well-being, the creation of conditions for post-crisis development. As a result, according to the Ministry of Finance, the economic growth of Kazakhstan resulted in 4%.

The total income of the budget has reached 9.7 trillion tenge. The Minister also told about the expenses of the budget.

Among them, 11 trillion and 156 billion tenge or 99.8% were fulfilled. All social obligations were dome. In the report year, 5 million 86 thousand people received pensions and allowances from the budget. 1.9 trillion tenge were spent on it. The support of mothers and children is one of the key directions of social policy. The funds for childbirth allowances were allocated in the amount of 35.2 billion tenge, that were paid to 392.7 thousand people. 539.6 children from families with low incomes at the age under 18 were provided with allowances," said Bakhyt Sultanov.


He noted that during holding an analysis of the report, shortcomings made when fulfilling the budget were announced.

Our next main tasks is joint work with government agencies to minimize these shortcomings. In the report year, we have already had a number of measures to improve budget procedures. For instance, the state procurements and office control over procedures were fully automatized. However, the area has current issues. To deal with them, a relevant draft law was prepared to consider them. The task of the document is to simplify the procurement procedures, to increase the quality and responsibility," said the Minister.


Sultanov noted that in order to increase the effectiveness of the implementation of investment projects in construction, a pilot project has been introduced from the last year on treasury support of state procurements.

The state pays special attention to eliminate the excessive increase of long-term obligation taken. From the last year, the Treasury has been registering the obligation on PPP projects. In order to simplify the debts when implementing investment projects, the advance allotment was simplified when constructing new facilities, as well as reconstructing. The working group that was established at the Ministry of National Economy will consider the issues of eliminating disagreements between the documents of the system of national planning, increasing the quality of their indications and norms to return the funds that were generated by quasi-state subjects into the income of the budget," said the head of the Ministry of Finance.


Also, according to the Minister, the government debt as a share of GDP has made up 26%.

According to the last report of the World Economic Forum, Kazakhstan ranks 11th out of 137 states in the government debt indication.

Source: BNews.kz

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