A trillion on investment

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The President gave instructions on provision of support to the agribusiness, housing construction spheres and the economy of RK in general

Additional anti-crisis measures will be adopted in Kazakhstan in the form of allocation of huge funds. This decision was taken today at the enlarged session of the Government held in Akorda chaired by the President of RK Nursultan Nazarbayev, reported the press service of Akorda.

The largest amount, which will be further invested in the national economy is 1 trillion 450 billion tenge. "I give an instruction to invest in different sectors of the economy the available retirement savings in 2016 in the amount of 1 trillion 450 billion tenge", - quotes the head of the press service of Akorda on Twitter.

About 100 billion tenge will be allocated to "KazAgro" – the national holding to finance priority projects of the AIC. Powerful budgetary aid will be allocated to construction and housing sector in general. The Head of the State ordered to send 97 billion tenge for support of private builders on the returnable basis. Another 149 billion tenge is intended for the construction of loan debt housing, including 22 billion tenge for crediting of investors. 53 billion tenge will be spent for the construction of rental housing. At the same time, Nursultan Nazarbayev noted that "the cost of housing should be socially oriented". Kazakh President added that "all this will introduce an additional 1.5 million square meters of housing in 2016 to ensure the contribution to GDP growth".

"Having assessed the possibilities, including savings from the correction of an exchange rate, we can allocate funds for additional anti-crisis measures" - quoted Nazarbayev's press-service in Akorda.

Zhanar Serdalina