March 13, 2020 / 7:33 AM / 24 days ago

Kazakh president announces $740 million stimulus plan

FILE PHOTO: Kazakhstan President Kassym-Jomart Tokayev speaks during a joint news conference in Berlin, Germany, December 5, 2019. REUTERS/Hannibal Hanschke/File Photo

ALMATY (Reuters) - Kazakh President Kassym-Jomart Tokayev ordered his government on Friday to allocate 300 billion tenge ($740 million) towards measures to boost employment through infrastructure maintenance projects, his office said.

At a meeting dedicated to responding to the coronavirus outbreak, Tokayev also instructed the cabinet to provide fiscal support to companies, enabling them to offer paid leave to employees forced to stay home with children as the Central Asian nation shuts down schools for three weeks.

Reporting by Olzhas Auyezov; Editing by Kevin Liffey

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