Billions for manufacturers and exporters
They will receive support from the National Fund, despite the crisis
By the Resolution of the Government dated by 16th of November # 913 there were introduced adjustments to the Joint Action Plan of the Government and the National Bank of the Republic of Kazakhstan for financing domestic manufactures and exporters in 2015-2016.
Let's start with numbers. The total volume of financing of medium and large businesses from the National Fund in 2015-2016 for support of domestic producers and exporters equals 100 billion tenge. As it was noted in the Resolution, for this purpose National Holding "Baiterek" will borrow means from the National Fund through the issue of bonds worth 100 billion tenge (85 billion tenge in 2015 and 15 billion tenge in 2016) for a period of 20 years from the date of the start of the circulation of the bonds at the interest rate of 0.1% per annum. At the same time the maturity of bonds is at the end of circulation, with the right of early repayment at the initiative of the emitent. After receipt of the funds for the implementation of measures for the three abovementioned areas, JSC "NMH" Baiterek" will provide loan funds to "DBK" in the amount of 85 billion tenge in 2015 and 15 billion tenge in 2016 by the conclusion of the loan agreement. The conditions are like that - interest rate is 0.15% per annum, the loan term up to 20 years, the payment of principal debt - at the end of the loan term, redeemable at the initiative of the borrower, the payment of interest on the loan is 2 times a year. These funds are intended to finance through leasing and / or a loan for domestic automakers, manufacturers of passenger cars; export and pre-export financing. Volume of the loan is 100 billion tenge, including in 2015: 30 billion tenge - for support of domestic automakers, 5 billion tenge for support of production of passenger cars and 50 billion tenge for support of exporters. In 2016 support for exporters is 15 billion tenge. We add that the decision does not provide support for the production of helicopters "Eurocopter", this chapter was excluded from the document.
The Resolution contains data and analysis of the current situation in the production of machinery products in Kazakhstan. At the end of 2014, production volumes fell by 0.5%, with a decrease in release of cars by 0.8%, freight rail cars 5.2%, passenger cars by 55%, diesel locomotives by 44%. Among the reasons for the fall of indices the document names the decline in domestic consumer demand, the increase in the cost of manufacture, as well as the loss of competitiveness as a result of currency imbalances with major trading partners.
The officials are concerned about increase of auto import to Kazakhstan. In 2014, it increased by 0.4%. If we talk about the geography and scale of imports, the import of cars from Russia rose by 7.9% last year, from Uzbekistan by 58%, from Belarus 4.4 times.
For entities of medium and large businesses (including non-residents), engaged in export of domestic goods and import of goods manufactured on the territory of Kazakhstan in the manufacturing sector, the total amount of funding in the past year will amount to 50 billion tenge. 15 billion tenge will be provided for these purposes in the new year - 2016. This Resolution comes into effect on the date of its signing, states the document.
Zhanar Serdalina
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