EXCLUSIVE-Kazakhstan plans to hike mining tax, VAT - economy minister

Kazakhstan plans to raise taxes for miners and cut fuel subsidies in order to balance its budget, and borrow actively to develop the shipping route between China and Europe bypassing Russia, Economy Minister Alibek Kuantyrov told Reuters.

The oil- and minerals-rich Central Asian nation, where a number of large foreign companies such as Glencore have mining operations, has increased government spending in recent years in response to the COVID-19 epidemic and the war in Ukraine.