Kazakhstan approves draft 2007 republic budget

ASTANA. Nov 13 - Kazakhstan's parliament adopted the draft 2007 republic budget at its second and final reading on Monday.

The draft was approved in the edition proposed by a joint commission of both houses, and projects revenues at around 1.982 trillion tenge, spending at about 2.127 trillion tenge and deficit at some 145.1 billion tenge, or 1.2% of GDP.

The tenge is tied to the dollar at 127.85/$1.

The draft will now be submitted to the presdient for signing.

Earlier reports said that the initial draft, proposed by the government, targeted revenues at 1.982 trillion tenge, or 16.7% of the projected GDP for 2007,) spending at 2.115 trillion tenge (17.8% of GDP) and deficit at 133.1 billion tenge (1.1% of GDP.

Kazakhstan has a population of over 15.3 million. The republic budget is used as the basis for forming the state budget which also comprises regional budgets.