Masimov: Kazakh budget can adapt to $16 per barrel

Kazakhstan's budget is able to withstand the test of current low oil prices, Kazakh Prime Minister Karim Masimov said.

"The budget, now based on oil at $40, will most likely be revised to $30 and it could withstand crude prices declining to $16. In principle, the budget can balance at $16 a barrel, but some programs would have to be adjusted," APA cited him as saying.

The prime minister did not rule out that the oil price may fall to $ 20 per barrel in the first half of 2016 before recovering to $30-$40 in the second half of the year.