Kazakhstan to allocate funds to stimulate economic growth

Kazakh Minister of Economy and Budget Planning, Erbolat Dossayev said around one trillion tenge ($1=182.02 tenge) will be allocated from the National Fund of Kazakhstan to stimulate the economic growth for 2014-2015.

“The allocation of around one trillion tenge from the National Fund for 2014-2015, will be one of the main sources for stimulating economic growth,” the minister said a briefing in Astana on April 14.

Dossayev pointed out that some 500 billion tenge will be allocated in the country in 2014 for this purpose. Some 100 billion tenge out of this amount will be spent on supporting and lending to small and medium-sized businesses, 250 billion tenge – for recovery of the banking sector and 150 billion tenge – for implementation of the second phase of the state program of forced industrial-innovative development.