Press release to the draft Resolution of the Government of the Republic of Kazakhstan "On Amending Resolution of the Government of the Republic of Kazakhstan dated April 25, 2015 No. 325 "On Approval of the Rules for the Use of Reserves of the Government of the Republic of Kazakhstan and Local Executive Bodies and Invalidation of Some Decisions of the Government of the Republic of Kazakhstan"

The Ministry of Finance has developed a draft Resolution of the Government of the Republic of Kazakhstan "On Amending Resolution of the Government of the Republic of Kazakhstan dated April 25, 2015 No. 325 "On Approval of the Rules for the Use of Reserves of the Government of the Republic of Kazakhstan and Local Executive Bodies and Invalidation of Some Decisions of the Government of the Republic of Kazakhstan" (hereinafter – Draft) in implementation of amendments to Articles 19 and 20 of the Budget Code of the Republic of Kazakhstan, introduced by the Law of the Republic of Kazakhstan dated December 31, 2021 "On Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on on public administration, improving the collateral policy of second-tier banks, regulation of appraisal activities and enforcement proceedings".

The draft provides for amendments to the Rules for the Use of Reserves of the Government of the Republic of Kazakhstan and local executive bodies in terms of shortening the terms of borrowing in case of a cash deficit forecast in the next financial year from three years to six months within the financial year.

This Project is posted on the Internet portal of open regulatory legal acts http://legalacts.egov.kz December 31, 2021.

The deadline for public discussion of the Project is until January 14, 2022.