/Kazakhstan today, October 15, 03/ - Today, on October 15, 2003 the Minister of economics and Budget planning Kairat Kelimbetov presented a project of republican budget for 2004 in Senate, the KZ-today's correspondent reports from Astana.

As was informed earlier, the volume of state revenues for 2004 is assumed to be at KZT862.2 bn., the volume of expenditures to be taken from republican budget is planned at KZT954.8 bn level, the deficit of the republican budget - at KZT92.7 bn or 1.9% of GDP. In 2004 the GDP is planned to be at KZT92.7 tn., what 500 bn (7%) greater than the amount provided for in 2003 plan. The consumer price index in 2004 is planned at 5.4% level, the exchange rate of tenge to the US dollar - 153.3.

Presenting the draft before Senate, K.Kelimbetov noted that "major state expenditures from republican budget will be aimed at rural localities and industrial-innovative development, social sphere, investment projects".

In accordance with the law on budget system the decision on the republican budget proposal will be adopted at joint sitting of both Chambers not later than December 15, with giving a bill at least two of its readings.

[2003-10-15]