Kazakhstan's 2024 budget execution gets parliamentary approvalKazakhstan's parliament approved the government's 2024 budget execution report during a joint session Friday, though three opposition factions voted against the measure.The vote passed with 48 of 50 senators and 69 of 91 lower house members in favor.Finance Minister Madi Takiyev reported 2024 GDP growth of 4.8% and inflation reduction from 9.8% to 8.6%. Budget revenues reached 19.945 trillion tenge at 97.5% execution, while expenditures totaled 23.594 trillion tenge at 97.8% execution. The budget deficit stood at 2.7% of GDP, with national debt at 23.7% of GDP.Revenue shortfalls of 608.6 billion tenge resulted from reduced production at 188 major enterprises and record VAT refunds of 1.216 trillion tenge, triple 2023 levels. Anti-shadow economy measures generated 1.28 trillion tenge in additional revenue, up 37% year-on-year.The Supreme Audit Chamber warned that nearly half of budget expenditures rely on National Fund transfers and borrowing, threatening fiscal stability. Auditors identified 862 billion tenge in violations, a 65% annual increase, with 135 billion tenge recovered.Takiev announced 2026 budget reforms, including streamlined three-month preparation and new expenditure categories. (ICE ALMATY)

Fonte notizia: INTERFAX