Kazakh Government to invest 9.6trln tenge in economic growth

The Government of Kazakhstan plans to invest 9.6 trillion tenge to ensure economic growth, according to Deputy Prime Minister – Minister of National Economy Nurlan Baibazarov, Kazinform News Agency reports.

“We have already determined the sources and areas for investments, namely in infrastructure, processing industry, and agro-industrial complex. Speaking in figures, we expect investments in ensuring economic growth will amount to 9.6 trillion tenge,” Baibazarov said in an interview published on primeminister.kz.

In his words, this amount includes budget investments and extra-budget sources of investments.

The lion’s share of this amount or 7 trillion tenge falls on extra-budget investments. First of all, these are the funds of national holdings – Samruk-Kazyna and Baiterek. The second source is the domestic and foreign capital markets, funds of second-tier banks and other institutional domestic investors.

According to Baibazarov, the Government also actively cooperates with the international financial organizations to attract long concessional financing for the projects. Private investments injected both by domestic and foreign investors also play an important role.