18.04.2018, 19:43 3236

Projected oil price increased by 10 dollars in the republican budget for 2018

It is increased from 45 to 55 dollars.
Minister of National Economy Timur Suleimenov announced the forecast of the price for oil for the current year, provided by the draft amendments to the law "On the republican budget for 2018-2020".

The forecast for oil prices in 2018 increased from 45 to 55 dollars per barrel. The price index for metals increased by 0.4%," said the Minister presenting the draft law at the plenary session of the Majilis.


According to him, the calculated dollar exchange rate for 2018 is kept at 340 tenge. Taking into account the specified base of 2017, the nominal GDP in 2018 is projected at 57.2 trillion tenge. This is by 1.3 trillion tenge higher than the indicator for 2018, laid down in the previously approved draft budget. The real GDP growth is expected at 3.8%.

The GDP per capita will increase to 9,200 dollars. Growth in the industry has revised in the direction of the increase to 3.3%, which is due to the expected higher growth in the manufacturing industry by 5.1%," said the Minister.


According to the estimates of the Ministry, the volume of oil production in 2018 is 87 thousand tons. The inflation is maintained at the approved corridor of 5.7%.

On the basis of the adjusted macro forecast, the forecast of the parameters of the republican budget for 2018 was clarified. The revenues (excluding transfers) in 2018 are estimated at 5.7 trillion tenge, which is higher than the approved plan for 190 billion tenge. The main increase in revenues is ensured by the revenues of the mineral extraction tax and the export customs duty on crude oil. The guaranteed transfer from the National Fund is preserved in the previously approved amount (2.6 trillion tenge), it is not envisaged to attract a targeted transfer," said Suleimenov.


Source: BNews.kz

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