Kazakhstan to review budget-2001 figures

/IRBIS, Oct 9, 01/ - REUTERS informs, with the reference to the finance minister, Majit Esenbaev that the Government of Kazakhstan intends to correct some figures of budget-2001 and send necessary suggestions to the Parliament. The funds released after the review are said to be used to create authorized capital of the Development Bank of Kazakhstan which was created to finance major socio-economic regional projects and making social payments and repaying debt of previous years. Part of the funds are to be used to strengthen the defense as a result of military actions in Afghanistan, is said. He said that they had met macroeconomic parameters and there is a possibility of exchange rate and inflation decrease. Initial GDP growth was planned at 4.0% and inflation at 7-8%, whereas these figures are corrected to 10% and 6%, respectively. The growth was attributed to high world prices on oil and metals and their production volumes, is said. Meanwhile, Statistics Agency informs that in January-August 2001 oil production rose to 23.4m from 19.4m of similar period of last year, and copper production rose to 273.1 th. tons from 261.689 th. tons. The facts mentioned above allowed us to save on the funds and including current revenues we suggested the president to correct the budget, he added. However, no exact figures were given. Approved budget has a deficit of 2.2% of GDP, revenues at KZT406.2 bn, expenses at KZT462.0 bn.