Mazhilis adopted the bill on budget refinement for 2008

/INTERFAX-KAZAKHSTAN, Astana, May 21, 08/ - Mazhilis of Kazakhstan Parliament, on Wednesday adopted the bill "on amends and additions in several legislative acts on problems of republican budget refinement for 2008 on plenary session", reporter of Interfax-Kazakhstan said. " Mazhilis` committee on finance and budget is ready to make a conclusion on this project till May 28" - Serik Ospanov, member of committee, said on Mazhilis meeting. As informed, Kazakhstan government offers to increase income part of republican budget, 2008 by nearly KZT30 bn., expenditure part - by KZT153 bn. (the current - 120.61/$1). At that, the volume of deficit is suggested to determine at the rate of 2.1% to GDP, which allow to borrow supplementary assets in amount of KZT123 bn., including KZT21 bn. - free demand balance of last year, which, in accordance with Budget Code, are taken into account while refinement of current budget. Earlier, in approved parameters of republican budget, 2008, its deficit made 1.4% to GDP. Last year autumn, republican budget for 2008 was adopted in the following parameters: incomes - KZT2 trl. 694 bn. 732.3 m., expenditure - KZT2 trl. 905 bn. 236.2 m., deficit - KZT210 bn. 503.9 m. or 1.4% to forecast volume of GDP. At the moment of approving of republican budget-2008 at the end of last year, face amount of GDP this year forecast on the level of KZT15 trl. 249.4 bn. At that, GDP per head, as expected, will reach $7994, which should exceed the corresponding index of last year by 19.2%. Republican budget for year 2008 was made on the basis of following macroeconomic forecasts: calculated rate of tenge exchange to US dollar in average per year - 121.1/$1, average annual index of world oil price of Brent mark - $60 per barrel. In Kazakhstan the republican budget is the main financial document, on its base the state budget is formed, which also includes region's budgets. [2008-05-21]