Over 91 bln tenge to be spent on boosting home demand – Bishimbayev

ASTANA. KAZINFORM In the second half of year 2016, Kazakhstan plans to spend 91.5 bln tenge from the Government's Special Reserve on boosting home demand. Minister of National Economy Kuandyk Bishimbayev has said it today at the Government's meeting.

According to the Minister, 30 bln tenge will be allocated as a transfer to the regions under the Business Road Map 2020 program. These funds will be used for the repair of housing and utilities, infrastructure and landscaping work in rural settlements and small towns. 23.9 bln tenge will be spent on maintaining infrastructure of the projects under the Business Road Map-2020 program. 20 bln tenge will be spent on implementation of the project on provision of rural settlements with a broad-band access to internet.

This money as well as the reserves of the Unified Pension Fund will be used for financing the projects through the Development Bank of Kazakhstan which will allow to reduce final financing rate. 12.34 bln tenge will be spent on expansion of Astana Airport and acceleration of construction of a ferry boat complex at Kuryk Port. 4.2 bln tenge will be used for co-financing of Kurty-Burabay road construction projects to be implemented jointly with the EBRD.

“The abovementioned funds of the Special Reserve, National Fund and the Unified Pension Fund can be used without specification of the budget. The ministries of national economy, healthcare and social development, investments and development, information and communications must submit  to the Cabinet draft resolutions on allocation of funds from the Government’s Special Reserve,” added Bishimbayev.