Finance Minister announced how much to be spent on pension increase

ASTANA. KAZINFORM Minister of Finance of Kazakhstan Bakhyt Sultanov announced the amount of budget money to be spent on pension increase, Kazinform correspondent reports.

Reporting on budget execution in 2016 in Majilis, the Minister reminded that the approved budget expenditure increased by 980 billion tenge as a result of two clarifications.

"Such an increase in budget expenditures, first of all, made it possible to increase social spending. Half of the expenditures, that is, 4 trillion tenge, are social expenses," Sultanov said.

In particular, since January 1, pensions have been raised 9 percent. KZT1,353 billion was allocated for pension and KZT 290.8 billion for an introduction of a new model of the civil servants' payment system. Maternity benefits were paid to 438.1 thousand people making KZT 33 billion.