Kazakh Economy and Budget Planning Minister Bakhyt Sultanov told about the main parameters of the republican budget during the presentation of the draft law “O republican budget for 2009-2011” in the Majilis of the Kazakh Parliament on September 11.
According to him, budget revenues in 2009 will make up about US$ 259.110 billion that is 15.8 per cent more in comparison with the current year. The forecast includes conditional loss of fiscal revenues as a result of the tax legislation changes. US$ 44.675 billion of loss is expected in 2009. To set off losses caused by changes of the tax legislation, the guaranteed transfer from the National Fund to the republican budget was increased. In 2009 it will be equal to US$ 7.046 billion.
The volume of receipts to the National Fund is predicted to make about US$ 11.707 billion or 8.1 per cent to GDP in 2009.
