Kazakh Government to revise 2011 budget in second half year

In early April 2011 the world price of Brent crude oil reached 127 dollars a barrel. Now it fell below 110 dollar per barrel. Thus there exists a probability of both the rise and sharp decline in prices. It is therefore proposed to postpone 2011 budget rectification for the second half of this year, in order to see the results of the first half," Kelimbetov said.

The Minister noted that economic performance in the first quarter of 2011, as well as external conditions of development, formed at a higher level than expected by the initial parameters in developing the draft budget for 2011.