State revenues of Kazakhstan in January-April - KZT163.8

/IRBIS, May 25, 00/ - Almaty office of REUTERS informs that according to press-secretary of the prime-minister, Rasul Zhumaly, the state budget revenues achieved KZT163.8 bln in January-April. This compares with planned volume of KZT158.5 bln. He did not note the sources of growth in revenues. "Current figures indicate about positive trends in the economy. For instance, industrial production is 16% up, agricultural production grew by 5.5%, the growth of investments in fixed capital increased by 30%," said Mr. Zhumaly. Current GDP growth by 9% is a record high since 1994. Data for the period also show double growth of trade turnover with positive balance of $1 bln. He also reminded that refinancing rate has declined for the period to 16% (18%) and situation in banking and financial sectors is stable. The deposits of population tend to rise having made up about KZT60 bln by April 1, 2000. However, Mr. Zhumaly noted that it is too early to confirm a complete recovery of the economy. Besides positive trends there are some lags in realization of privatization program, preparation of legislation and reanimation of certain productions. The sale of state-shares in large enterprises has not been conducted yet. The number of "blue chips" decreased. In reality, only state blocks of two companies (JSC Mangistaumunaigas and JSC Kazakhtelecom) instead of ninth could be sold in this year. Mr. Zhumaly also confirmed that the government aims to achieve previously approved indicators. "Indicative plan on year 2000 states that GDP growth should reach 3% with inflation not exceeding 10%. The budget deficit must not exceed 3%," said the press secretary.