/INTERFAX-KAZAKHSTAN, Astana, January 1, 07/ - Since January 1 minimum sizes of wage and pension are increased in Kazakhstan.

New figures have been reflected in the law "About the republican budget for year 2007", accepted by the parliament and signed by the country head.

According to the law, from January 1, 2007 there have been set minimum sizes of wage in the republic - KZT9752, minimum pension - KZT7236, state basic pension payment - KZT3 th., monthly calculation index (MCI) for calculation of benefits and other social payments, as well as for penalty provisions usage, taxes and other payments in compliance with the legislation of the Republic of Kazakhstan - KZT1092, size of living wage for basic social payments calculation - KZT8861. Current rate is 127/$1.

As it was said, the budget of year 2006 contained following indicators: minimum size of wage - KZT9200; minimum pension - KZT6700; size of basic pension payment - KZT3000; MCI - KZT1030; size of living wage for basic social payments calculation - KZT7945.

Republican budget for year 2007 was confirmed with the deficit equaling to KZT145.1 bn., or 1.2% relative to forecasted GDP volume for that year. At that its revenue side is planned in the amount of 2 trln. 011.5 bn. tenge (16.9% to GDP), expenditure side - 2 trln. 156.6 bn. (18.1% to GDP).

The republican budget for this year was prepared according to the following major macroeconomic forecasts: GDP volume in the next year is expected at 11 trln. 880 bn. tenge with real growth by 8.6% in comparison with year 2006; inflation in the average in year 2007 - within 5-7%; planned exchange rate of tenge relative to US dollar in the average for the year - 117/$1, average annual world Brent oil price - $60 per barrel.

The republican budget-2007 has been made on the basis of the new concept of the National fund formation, according to which all inflows from oil sector are sent to the National fund, and afterwards from it, if necessary, the guaranteed transfer for covering the missing funds of the republican budget is taken.

In 2007 volume of such transfer from the National fund to the republican budget has been set at KZT301.7 bn.

Meanwhile, total inflows to the National fund in year 2007 are forecasted in the amount of KZT853 bn., or 7.2% relative to the expected for that year GDP volume.

Revenue side of the republican budget for year 2006 was confirmed in the amount of about 1 trln. 533.9 bn. (17.6% relative to forecasted GDP volume for this year), expenditure side - in the amount of 1 trln. 660.1 bn. tenge (19% to GDP), deficit - KZT126.2 bn. (1.4% to GDP).

The republican budget-2006 was accepted with basing on the next forecast of major macroeconomic indicators: GDP volume for that year - 8 trln. 725 bn. tenge with real growth in comparison with 2005 - by 8.3%, average annual inflation - within 5.7-7.6%, world oil price (Brent) - $55 per barrel.

In Kazakhstan, population in which at present exceeds 15.3 m. persons, the republican budget is the major financial document. state budget, which comprises regional budgets, is formed on the basis of it.

[2007-01-03]