Minister of Economy and Budget Planning Bakhyt Sultanov of Kazakhstan

3 percent from a previous range of 5-7 percent, Economy Minister Bakhyt Sultanov said on Friday.

Bakhyt Sultanov said the volume has been revised downward from the Energy Ministry's earlier projection of 70 million tons.

Sultanov said the projection was readjusted to factor in the impact of repair works and confirmed output figures from January to April.

ASTANA, Sept 8 (Reuters) - A new oil tax proposed by the government of Kazakhstan will apply to about 60 percent of the country's crude output next year, Economy Minister Bakhyt Sultanov said on Monday.

Sultanov was presenting a reform package designed to shift the tax burden onto the oil, mining and metals sectors -- mostly through a new mineral extraction tax -- to foster the development of other industries.

Economy Minister Bakhyt Sultanov said the state budget may face further cuts, if the price of oil declines to $25 per barrel, but stressed that Kazakhstan would not fall into recession, the Kazinform news agency reported on December 18.

3% in the first quarter of 2008, Economy and Budget Planning Minister Bakhyt Sultanov has said.

Mr Sultanov said that the situation in the financial sector had stabilized in the first quarter of the year.

Economy and Budget Planning Minister Bakhyt Sultanov was quoted as saying that the decline of production was due to repair works and a lower rate of production in the first four months of this year.

Bakhyt Sultanov met a delegation of German businessmen headed by Hamburgs Senator for Economy and Labor Mr.

Sultanov expressed Kazakhstans readiness for mutually beneficial cooperation and informed the German side on measures taken to enhance the investment potential.

Sultanov said on the governments Web site.

Masimov told his officials to make a decision after Economy Minister Bakhyt Sultanov said that the government is going to lose significant revenues because of the Kashagan delay.