Consumer credits to be paid off through redistribution of Republican budget's funds - Ministry of Finance

Astana. July 2. KazTAG - Repayment of consumer credits of poor people in Kazakhstan will be covered through redistribution of the Republican budget's funds, said Alikhan Smailov, First Deputy Prime Minister- Minister of Finance.
"Financial provision of the President's order (on aid to poor people-KazTAG) will be carried out through redistribution of some funds planned on creation of direct investments fund. Specification of budget expenses will go on three directions," said Smailov at the session of the government.
In his words, 138.6 bn tenge will be directed on reduction of debt burden of population on consumer credits - the Government will pay off the main debt and the interest rate up to 300 000 tenge for each loaner in the category of persons in hard life situation.
"The second direction - extension and enhancement of current measures for provision of employment, support of poor people, families with many children and youth. 1.5 bn tenge will be directed for additional 5000 educational grants in universities for children from poor families, 2.4 bn tenge- for increase of welfares for students of blue-collar jobs, it will concern 132 000 students," he said.
49.2 bn tenge will be directed on employment development through short term professional education on Bastau Business, and increase of micro-crediting in villages and grants for start-up projects on Enbek state program. The volume of rent housing construction will increase by 14.4 bn tenge, other 70 bn tenge will be allocated for target social aid.

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