Kazakhstan's 2005 budget deficit could widen to 1.9 percent of gross domestic product from 1.7 percent after increases in social spending promised by the president
Published:
28 February 2005 y., Monday
Kazakhstan's 2005 budget deficit could widen to 1.9 percent of gross domestic product (GDP) from 1.7 percent after increases in social spending promised by the president, the Economy Minister said on Thursday.
In his state-of-the-nation address, President Nursultan Nazarbayev promised to boost pensions, public sector wages and welfare benefits.
Nazarbayev, who has run the oil-rich Central Asian nation of 15 million with sweeping powers since Soviet times, has repeatedly said he will run for a new seven-year term in 2006.
Economy and Budget Planning Minister Kairat Kelimbetov said earlier this week that spending could rise by 100 billion tenge ($770 million).The original budget put expenditure at 1.2 trillion tenge and targeted a fiscal gap of 101.4 billion tenge.
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