ID :
Thu, 10/02/2008 - 10:11
Auther :

Governmental meeting

Astana, 1 October 2008, (Khabar) - Kazakhstan is protected from negative outside influences of world financial crisis. Due to the support of the president and under his commission the portfolio of measures which will secure the country against negative external influence and crises which are now occurring on world markets, were passed and three strategic laws including tax, budget codes and the three year budget were directed to this.

Bills were presented to the parliament by prime-minister Karim Massimov.

Karim Massimov, Prime-minister of RK:
- Recently the International Monetary Fund forecasted that unlike the
majority of other countries where low growth rates will be preserved,
Kazakhstan is able to increase economic growth in 2009.

This year the state is focusing its attention on the support of such
branches of the economy as the construction industry, including shareholders
' rights protection, the agricultural sector with issues concerning food
supply security and small and middle sized business. To strengthen the
financial system a special fund of stress assets will be created. Long-term
plans for tax and budget codes are to be put in the budget developed by the
government for 2009-2011.

Karim Massimov, Prime-minister of RK:
- It is very important to note that the three-year budget includes the
possible decrease of the world price on oil to 60 US dollars per barrel,
which means that we are ready to secure the economical growth of the country
even in case of the realization of the most unfavorable scenario of world
economy development.

The main principle of the new tax code is the decrease of the load on the
non-raw material sector of economy that will help government stimulate the
development of entrepreneurship and the processing industry. The new budget
code will come into effect on the 1st of January 2009 with its main
principle --- the transition of the budget from a money controlled system to
a results controlled method. The republic budget which includes an increase
of social expenditures on education, healthcare and human services, is based
on the new system.