Kazakhstan cuts budget spending and lowers GDP growth forecast

Expenses associated with the maintenance of government bodies and subordinate organizations will be optimized by 9% or 103 billion tenge, Finance Minister Bakhyt Sultanov said during the consideration of the law “On Amendments to the Law of the Republic of Kazakhstan “On the Republican Budget for 2015-2017”.

The largest in terms of spending cuts are planned in the Ministry of Internal Affairs (40 billion tenge), the Ministry of Finance (3,5 billion tenge), the Ministry of Education (2,3 billion tenge), and the Ministry of Justice (1,5 billion tenge).

“The direction includes the optimization of administrative, capital, representative and travel costs, activities in the field of informatization and other current expenses. Current expenses were reduced by 391 billion tenge, the development budget by 295,5 billion tenge,” the minister added.