Kazakhstan can occupy an order $1 billion at World Bank for a budgeted deficit covering in 2010 - B.Sultanov

/IRBIS, December 30, 09/ - Kazakhstan can occupy an order $1 billion from the World bank for a budgeted deficit covering in 2010 and postpone release of the first bonds for a decade in a foreign currency, has told the Minister of Economics and budgetary planning of Republic Kazakhstan Bahyt Sultanov in telephone interview Bloomberg on December, 29th. As it is specified in the message, the government of Kazakhstan predicts a budgeted deficit next year at a rate of 721 billion tenge ($4.9 billion) Or 4.1 % from gross national product. The government plans to occupy about 650 billion tenge in the country and "will aspire to involve the rest at the international financial institutions, such as the World bank", B.Sultanov has told. He has noticed that the sum which Kazakhstan will search abroad, will depend on the answer from internal investors. B.Sultanov has noticed that now "still too early to discuss" release of the state bonds in a foreign currency, having referred on "high cost of loans in the international financial markets and proceeding re-structuring of debts of the Kazakh banks" the republic Ministry of Finance last month has told that can involve about $500 million from sale of bonds next year. This year Kazakhstan has occupied $500 million from the Asian bank of development, the minister has noted. The bank can invest about $1 billion in 2010 in private projects, he has told. [2009-12-30]