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14/06/07;

№11 (196) 6 - 19 June 2007

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Sic transit gloria mundi
In early May a scandal erupted. Official Astana and Rahat Aiev were involved in it. The quarrel was the mostly discussed news. It made headlines of all leading media
Companies and markets:      
Accounting and business
On May 24,2007 the Accounting Committee, which exercises control over the budget spendings and revenues issued the annual report. In the document , Omarhan Oksibaev the Chairman of the Committee said "Over the last years there has been a considerable gap between the planned (forecasted) and actual spending. According to Mr Omarhan Oksibaev, this leads to numerous corrections and revisions of the basic financial document of the country. In their turn corrections imply "missed opportunities for economic growth". Is the assumption of the politician reasonable? It is hard to say anything for certain. Kazakhstani authorities apply conservative approach towards budget planning, especially when it comes to main variable- oil prices. The state prefers to proceed on the assumption of the future deficit, while making prognosis for the coming year. Due to high oil prices, the government always generates extra revenues


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