Head of State receives PM Alikhan Smailov

ASTANA. KAZINFORM – President Kassym-Jomart Tokayev heard a report of Prime Minister Alikhan Smailov on the country’s socioeconomic development as well as revised parameters of the 2023 republican budget, Kazinform cites the Akorda press service.

President Tokayev was informed that global economy and macroeconomic indicators growth forecasts for 2023 had been preserved at the earlier approved level. Real GDP growth is planned at the level of 4 per cent and oil price is expected to stand at $85 per barrel.

Prime Minister Smailov went on to talk about the revised parameters of the 2023 republican budget which is expected to be revised for additional KZT 2.2 trillion. Additional expenditures are earmarked for the development of small and single-industry towns, implementation of the Auyl – el besigi (Village is the cradle of the country) project, gasification purposes, construction and reconstruction of heating systems, ensuring food security and improving employment rates in rural areas.

In order to develop infrastructure and logistics there are plans to channel additional funds into construction and reconstruction of roads, purchase of railway fleet and new passenger cars, new processing industry projects, modernization of the Kazakh army and more.

At the meeting, the Head of State emphasized the importance of tightening control over budgetary expenditures in order to achieve the maximum possible socioeconomic effect.