President receives Minister of Finance

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ASTANA. KAZINFORM - Head of State Nursultan Nazarbayev has held a meeting with Minister of Finance Bakhyt Sultanov today, Kazinform has learned from the Akorda's press service.

During the meeting, President Nazarbayev was informed of the progress in implementation of the goals set to Kazakhstan's financial and fiscal systems within the framework of the state-of-the-nation address "The 3rd modernization of Kazakhstan: Global Competitiveness".

Having noted the importance of increasing the level of economic development of the country, Nursultan Nazarbayev placed the emphasis on three main tasks.

"First of all, it is necessary to increase budget revenue through development of corresponding mechanisms. The ministry should study foreign experience, if necessary. Secondly, it is crucial to put down public expenditures. And, thirdly, the earmarked budget should be used effectively," President Nazarbayev stressed.

The Head of State emphasized that in the conditions of economic downfall and reduced income the Ministry of Finance should develop additional measures to eke out budget.

"Economic growth is mainly ensured at the expense of the National Fund. Many organizations wait for the funds to be allotted. The Ministry of Finance should control that process. We must increase our National Fund," Nursultan Nazarbayev instructed.

Additionally, Minister Sultanov reported to the President on the measures taken by the ministry to preserve economic stability, carry out social obligations, improve the systems of public procurements and introduce preventive measures into the system of public audit.
 

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