Long-Term and Repayable Investments: The Government Implements Projects with Maximum Economic Effect
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Prime Minister Olzhas Bektenov, in response to questions from a Senate deputy, emphasized that borrowings should be attracted mainly for commercially attractive and cost-effective projects which, during operation, make it possible to service the debts attracted for construction by generating revenues to the budget, primeminister.kz reports.
As an example, he cited road projects that are already yielding significant returns. Last year, 48 billion tenge was received in the budget from toll roads, of which 10 billion came from foreign vehicles passing in transit. Over 10 months of the current year, 72 billion tenge has already been received, of which 17 billion came from foreign vehicles.
Olzhas Bektenov stressed that the Government will continue this work. At the same time, it is important for certain experts to take into account the overall economic effect generated by facilities built with borrowed funds.
Where a high-quality highway is laid, the level of economic activity is completely different. For some reason, it is not taken into account that along this road 50 gas stations and 100 roadside cafés have been built. This is employment, paid taxes, and all of this is economic growth. If we do not invest in such infrastructure projects, naturally, there will be no development. Therefore, in our view, those borrowings - which are attracted and spent wisely - generate a significant effect for economic development. We will take a careful approach to determining which projects to spend and attract such funds for," the Prime Minister emphasized.
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Kazakhstan's Air Astana announces changes to Middle East flights
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President Tokayev sets several tasks amid escalating situation in Middle East
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