GOVERNMENT: Kazakhstan continues to expand trade and economic cooperation with the Islamic world

Last week, Prime Minister of Kazakhstan Karim Massimov instructed region's governors to revise industrial projects implemented within the second five-year phase of the state program on industrial and innovation development. The Prime Minister gave the instructions at the Government sitting. Although, before that K. Massimov ordered Minister of Investment and Development of Kazakhstan Asset Issekeshev to submit for the consideration of the Government already approved amendments to the program by March 1, 2016. As earlier reported, the telephone conference of the Government of Kazakhstan was held. During the conference the participants considered measures on fulfillment of the instructions given by the Head of State at the enlarged sitting of the Government on November 18, 2015. In addition, following the meeting the Prime Minister instructed the Ministry of National Economy to establish the crisis plan to support entrepreneurs.

At teleconference of the Government of the Republic of Kazakhstan Deputy Prime Minister Dariga Nazarbayeva said that addressing employment issues should be the first on the agenda of local executive bodies.

Deputy Prime Minister raised the issue of the numerous violations in the use of budgetary funds allocated for the implementation of the Roadmap of employment in the regions.

November 25 Kazakh Senate adopted the law "On republican budget for 2016-2018". According to first vice-minister of the National Economy Marat Kussainov, in 2016 the budget revenues will amount to 3 trillion 655 billion tenge, in 2017 - 3 trillion 867 billion tenge, in 2018 - 4 trillion 195 billion tenge. He said that the budget expenditures in 2016 will amount to 7 trillion 666 billion tenge, in 2017 - 8 trillion 194 billion tenge, in 2018 - 7 trillion 661 billion tenge. The budget deficit in 2016 will be 723.4 billion tenge - 1.6 percent of GDP; in 2017 - 608 billion tenge or 1.2 percent of GDP, in 2018 - 552.3 billion tenge of 1 percent of GDP.

Senators have also adopted the law "On guaranteed transfer from the National Fund for 2016-2018". According to the law the annual guaranteed transfer from the National Fund will amount to 2.4 trillion tenge.

As it was previously reported, the national budget for 2016-2017 was updated in view of the changed socio-economic development of Kazakhstan and the situation on foreign markets. Vice Prime Minister of Kazakhstan Dariga Nazarbayeva called businesswomen to join the upcoming second stage of privatization. "In 90s Kazakhstani women could not partake in privatization. But now I am calling you to use this opportunity and join the privatization process," she said addressing the participants of the IV Eurasian Summit of Women in Astana. The Vice PM invited the women to focus on social sphere in privatization. "Social infrastructure facilities - kindergartens, hospitals, out-patient hospitals, schools - are falling under denationalization too," she noted. D. Nazarbayeva promised also to help those women who want to privatize even large industrial enterprises. "I welcome such decisions, and I will help you," she concluded. Minister of National Economy of the Republic of Kazakhstan Yerbolat Dossayev took part in the 31st meeting of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation in Istanbul, Turkey. 31st meeting of the Standing Committee for Economic and Commercial Cooperation was held in Istanbul under the chairmanship of Turkish President Recep Tayyip Erdoğan and the Secretary General of the Organization Iyad Madani.

Following the session Yerbolat Dossayev signed a general agreement on economic, trade and technical cooperation between the member countries of the Organization of the Islamic Conference. The general agreement is one of the main documents regulating economic cooperation of the OIC.

"Kazakhstan's accession to the agreement will give a new impetus to the development of close partnerships with the OIC countries, intensify collaboration with Islamic financial and economic institutions and facilitate attraction of investments to Kazakhstan," said Mr. Dossayev.

In addition, the meeting considered preparations for the 1st General Assembly of the Islamic Organization for Food Security. The event, reportedly, will take place in April 2016 in Astana.

It is expected that during the event the Government of Kazakhstan and the Islamic Organization for Food Security will sign an agreement on the legal status of the Islamic Organization for Food Security.