Budget revenues from export duty decreased by one third – Finance Minister

Kazakh President Nursultan Nazarbayev held a meeting on systematic measures of economic policy. Finance Minister Bakhyt Sultanov noted the significant decline in revenues. "The volume of imports fell by 38%. Thus, revenues from customs duties have decreased by half. The price of oil fell by half which caused decrease of revenues from export duty by one third. As a result, the profitability of the budget has decreased by 22%. However, expenditure rate of growth was kept up at 103.4% to the same period of the last year, primarily due to the guaranteed transfers from the National Fund," said Sultanov. The Minister of Finance pointed out that the amount of undisbursed funds from the state budget has decreased twofold amounting to 41 billion tenge.