business and economy

Kazakhstan considering import taxes on food products

By SRI ⋅ May 22, 2009 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Kazakhstan may increase import taxes on food products which are produced in Kazakhstan, the Agriculture Minister said last week.

According to the Minister, Akylbek Kurishbayev, the increase could be one of the measures to support the agriculture industry in Kazakhstan.

At the same time, however, should the increase in import taxes indeed be implemented, the measure could lead to increase in food prices in Kazakhstan and, consequently, to higher inflation. Food is a principal component of CPI basket in Kazakhstan with an approximate share of 40-50 percent.

Tags: agriculture

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