03 April, 2018

61.8 billion tenge to allocate to raise teachers’ salary in Kazakhstan

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Kazakhstan's Minister of Finance Bakhyt Sultanov presented the draft Law on the specification of the Republican budget for the current year, aimed at implementing the instructions of the President on the Address and 5 social initiatives, at the meeting of the Government.

The changed forecast of the country's macroeconomic indicators became the basis for clarifying the approved indicators of the Republican budget for 2018. Thus, the revenues of the Republican budget as a whole were increased by 181.4 billion tenge and amounted to 8 759.7 billion tenge, mainly from the export customs duty on oil as a result of an increase in the price of oil and production.

Expenditures of the Republican budget in 2018 will amount to 9 643 billion tenge, with an increase of 417 billion tenge. Of this amount, 292.5 billion tenge will be used to implement the Addresses of the Head of State "Third Modernization of Kazakhstan: Global Competitiveness" and "New Opportunities Under the Fourth Industrial Revolution".

"To raise the salaries of teachers from 30 to 50%, 61.8 billion tenge will be allocated, to increase the educational order for 20 000 grants, it is proposed to provide 5 billion tenge. The new benefit for persons caring for disabled people is 2.7 billion tenge. To provide drinking water to rural settlements, an additional 30.9 billion tenge will be directed," Bakhyt Sultanov said.

In addition, the draft budget takes into account the costs of the country's earlier commitments and instructions of the President, for a total of 99.4 billion tenge. Bakhyt Sultanov said that within the framework of these funds, measures and projects will be financed for the further development of the cities of Astana (25 billion tenge) and Almaty (10.7 billion tenge), provision of housing for military officers (18.7 billion tenge).

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