Kazakhstan to re-direct budget funding to support business and employment

AKIPRESS.COM - In connection with the coronavirus situation Kazakhstan will re-direct public budget funds for support of business and employment, President Kasym-Jomart Tokayev said in his televised address to the nation today.
"We see extremely negative efforts of coronavirus on the global economy. In fact, the question now is about reset of the global economic system. Kazakhstan feels the consequences of this enormous crisis. Despite economic cataclysms, we will adopt all necessary measures to prevent growth of social tension and unemployment," President Tokayev underscored.
The international reserves of Kazakhstan reached around $90 billion and this is a "serious guarantee of economic stability of our economic and fulfillment of social obligations of the state," Tokayev said.
"We will re-direct budget expenditures for the areas that will give the utmost effect for support of business and employment. At least 300 billion tenge will be allocate to support local businesses and create new work places," President Tokayev said.