Kazakh National Bank urges spending cuts amid oil price declineKazakhstan should reduce government budget expenditures and spending by national holdings Samruk-Kazyna and Baiterek if current global economic pressures persist, particularly low oil prices, the National Bank Chairman Timur Suleimenov told a Friday briefing."The question should be addressed to the government or to holdings Samruk-Kazyna and Baiterek, because their spending decisions are their own to make. But generally, I agree. If such pressures persist in the long term, they will inevitably have to tighten their budgets," the chief banker said.Should the oil prices stabilize, there will be no need to cut expenditures, Suleimenov added. (ICE ALMATY)

Fonte notizia: INTERFAX