Kazakhstan to reduce financing of housing construction

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ASTANA. KAZINFORM - Kazakhstani senator and member of the Senate's Committee for sociocultural development and science Akhan Bizhanov does not rule out that financing of housing construction will be reduced this year.

"Let's face it. There will be certain changes in the financing of housing construction. Earlier we planned to allot 30 billion tenge from the republican budget. It's most likely that the sum will be reduced to 20-25 billion tenge due to global economic crisis," MP Bizhanov admitted at the press conference on Thursday. He reminded that nearly 6 million square meters of housing are commissioned in Kazakhstan every year. Besides, domestic construction industry is forecast to grow by 2-3% this year.

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