Government • 14 July, 2020

Ministry of Finance speaks about optimization of costs of state bodies

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At the government session, Minister of Finance Yerulan Zhamaubayev reported on measures taken by the Ministry of Finance to ensure the immediate execution of Presidential instructions.

Digitalization Measures

According to the minister, to ensure digital control of counter obligations of the business, a Project Office was created and an appropriate methodological base was developed.

Work is underway to create an analytical database on a subject analysis of the effectiveness of state support measures, taking into account the monitoring of the fulfillment of counter obligations.

To create an integrated database that enables independent verification of their counterparties, legislative amendments have been developed together with Atameken NCE.

“They will be included in the bill on taxation and improving the investment climate, which is located in the Majilis of the Parliament. The integration of databases of government agencies and information systems of Atameken NCE will be carried out,’’ informed Zhamaubayev.

On Government to Business service

Ministry of Finance jointly with the Ministry of National Economy resolved the issue.

The service for the acceptance of the tax reporting form 910 “Declaration for Small Businesses” was implemented, which is hosted on the SmartBridge platform.

Atameken NCE is connected to the service. Already 6 IT companies are connected to it and 17 are being tested. In September 2020, this service will be fully operational.

In order to further involve the Problem Loans Fund in the economic turnover of assets, measures are taken to manage and implement them.

Now measures are being taken to sell housing, commercial real estate and movable property.

679 hectares of land are being put into economic circulation.

In general, the work will be intensified.

To develop the government securities market, work is underway to reduce the number of issues in circulation and enlarge their volumes.

For inclusion of securities in the international J.P. Morgan index, jointly with the Ministry of National Economy, the National Bank and the Agency for Regulation and Development of the Financial Market approved the Joint Action Plan.

Verification of the targeted use of anti-crisis funds is carried out by state audit bodies as part of the approved Action Plan. The work will be intensified.

Cost optimization

When forming the republican budget for 2021-2023, the expenses of state bodies and the quasi-public sector will be optimized.

In particular, it is expected:

1. To reduce travel, hospitality, provision of clothing, meals, etc .;

2. To review of the effectiveness of institutional loans with a reduction in their costs;

3. To switch to the maximum self-sufficiency of individual subjects of the quasi-public sector;

4. To develop realistic infrastructure plans in all sectors, taking into account the solution of the task of completing the projects started;

5. To optimize expenses of local budgets, etc.

“With regard to the payment of dividends by JSCs and LLPs with state participation in the republican budget, the relevant government decision has already been adopted. Practical implementation will be monitored,” Yerulan Zhamaubayev concluded.

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