If world oil prices maintain at US$ 25 per barrel, the National Budget of Kazakhstan may lose over KZT 150 bln. Minister of Economy and Budget Planning Bakhyt Sultanov has made it public at the Government’s session today.
According to Mr. Sultanov, the Ministry has made appropriate calculations on the basis of the benchmark of US$ 25 per barrel of crude oil. “This issue was considered at the sitting of the Republican Budgetary Commission”, the Minister said. “The administrators were commissioned to submit the list of budgetary programs financing of which can be postponed till the 3rd and 4th quarters of 2009”, he added.
According to B. Sultanov, the developed proposals will be discussed at the Commission’s session and submitted to the Ministry of Finance for consideration in forming the financing plan. “In this view I would like to ask our colleagues to specify terms of implementation of their budgetary programs”, B. Sultanov said.
“We should count on the most conservative scenario”, the Minister resumed.
