March 9, 2020 / 7:17 AM / a month ago

Kazakh president orders spending cuts after oil price drop

NUR-SULTAN, March 9 (Reuters) - Kazakh President Kassym-Jomart Tokayev ordered his government on Monday to cut budget expenditure and ensure the stability of financial and currency markets, his office said, after the price of oil saw its biggest drop since 1991.

The oil-exporting Central Asian nation will focus on protecting jobs, Tokayev’s office said in a statement. (Reporting by Tamara Vaal; writing by Olzhas Auyezov; editing by Louise Heavens)

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