Kazakhstan to allocate 300 billion tenge for SME support in 2024In 2024, Kazakhstani small and medium-sized businesses are set to receive approximately 300 billion tenge in state support, as announced by Minister of National Economy Alibek Kuantyrov."This year, the budget allocates around 300 billion tenge to support 40,000  existing and 20,000 new projects of small and medium-sized businesses,” Kuantyrov said at a government meeting.The support program aims to merge the "Business Road Map" and "Economy of Simple Things" initiatives, focusing on enhancing competitive, import-substituting, and export-oriented sectors while creating jobs across six key areas. Kuantyrov outlined the program's focus areas as: "Micro-entrepreneurship," "Small and medium-sized enterprises," "Enterprises in manufacturing and services," "Entrepreneurship in small towns and rural areas," "Social entrepreneurship," and "Stock Exchange.""The program aims to shift from subsidies to guarantee instruments and other non-financial supports. Under the new system, SME projects will receive differentiated subsidies over five years, gradually transitioning to market-based financing. Initially, borrowers will benefit from subsidized rates of 8%, increasing to 9% in the fourth year and 10% in the fifth year.,” he said.This strategy aims to reduce budgetary strain while guiding businesses towards market-driven financing mechanisms. (ICE ALMATY)

Fonte notizia: INTERFAX