Zhumangarin Explains Costs for the Astana International Forum

During a Senate briefing, journalists asked Deputy Prime Minister Serik Zhumangarin about the decision to hold the Astana International Forum, given rising inflation, increasing prices, and the President’s calls for fiscal restraint. They also inquired about the event’s budget, Orda.kz reports.

Zhumangarin confirmed that 4.5 billion tenge had been allocated for the forum but stressed that spending the full amount was not mandatory.

I won’t mislead you — yes, this amount is in the budget. But whether we will actually use it is another question. The forum will likely be funded by sponsors and extra-budgetary sources, which is standard practice,  he explained.

He assured that the list of sponsors would be made public, and in return for their support, companies would be allowed to set up exhibition stands, showcase, and promote their activities.

Zhumangarin emphasized that the Astana International Forum is crucial for attracting investors and improving Kazakhstan’s business climate.

Due to the pandemic and recent floods, we haven’t hosted such events for a long time. But now, Kazakhstan is open to the world again. We must not isolate ourselves — we need to engage with investors and explore new opportunities for collaboration, he stated.

He also noted that Kazakhstan is nearing the completion of budget reforms and preparing for tax reforms, adding that the country’s financial situation has stabilized.

Original Author: Artyom Volkov