Kazakh Government authorized post-crisis recovery program for competitive enterprises

13:14, 16 February 2011

ASTANA. February 16. KAZINFORM /Kanat Kulshmanov/ Kazakh Government approved a program of post-crisis recovery (rehabilitation of competitive enterprises). The draft program was introduced by Minister of Finance Bolat Zhamishev at the Government's sitting on February 15.

"The program is developed with the purpose of rehabilitation of competitive enterprises whose debt exceeds KZT 4.5 billion. Those enterprises whose debt is less than this amount will be able to benefit from state support under the "Business Road Map - 2020" Program", B. Zhamishev informed.

According to him, the program will be financed from the national budget from 2011 till 2016. "This year it may need KZT 8.8 billion", the Minister added.

The program is expected to have the following results: rehabilitation of 30-50 major enterprises, preservation of 70 percent of jobs at the enterprises, involved into the program.

"This program will not be widespread; it will be individual in nature. It is needed for businesses important for our economy, whose failure could have systemic consequences", the Minister resumed.

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