Government of Kazakhstan presented draft republican budget for 2026-2028 in MajilisThe deficit of Kazakhstan's republican budget in 2026 is projected at 2.5% of GDP, decreasing to 0.9% of GDP by 2028, Vice Minister of National Economy Azamat Amrin reported."The republican budget deficit for 2026 is set at 2.5% of GDP, with a gradual decrease to 0.9% in 2028. The non-oil deficit is reduced from 4.9% of GDP in 2026 to 2.7% of GDP in 2028. The growth rate of expenditures in 2026-2028 is stabilized at 108.7-109.3%," Amrin said during the presentation of the draft law in the Majilis on Thursday.Revenues of the republican budget in 2026 are forecast at 19.2 trillion tenge, or 10.5% of GDP. According to the Vice Minister, revenue growth is expected due to changes in tax legislation (3.7 trillion tenge) and economic growth (1.5 trillion tenge).The guaranteed transfer from the National Fund is set at 2 trillion 770 billion tenge annually. At the same time, no targeted transfers from the National Fund are planned for the upcoming period.Expenditures of the republican budget are planned at 27.7 trillion tenge in 2026, 28.8 trillion tenge in 2027, and 29.8 trillion tenge in 2028.The net foreign currency assets of the National Fund are projected to grow from $60.8 billion in 2026 to $68.6 billion in 2028.Meanwhile, GDP growth in 2026 is expected to be 5.4%."Nominal GDP will increase from 183.8 trillion tenge in 2026 to 229.8 trillion tenge in 2028. Exports are projected to increase from $77.1 billion in 2026 to $83.7 billion in 2028, imports from $67.7 to $75.2 billion. The inflation forecast is set at 9-11% in 2026, 5.5-7.5% in 2027, and 5-7% in 2028," Amrin added.Vice Minister of Finance Abzal Beisenbekuly specified that public debt servicing costs are planned at 3.5 trillion tenge. About 500 billion tenge is planned for the state reserve to cover urgent expenses and emergency response. 285 billion tenge has been allocated for presidential initiatives, and 5.1 trillion tenge for subventions."The main priority is the full funding of core obligations. Most importantly, the 2026 budget is balanced without attracting targeted transfers from the National Fund and remains socially oriented," Beisenbekuly said.According to him, out of the 36.2 trillion tenge in expenditures requested for 2026, 27.7 trillion tenge has been approved."Expenditures have been optimized. This allowed for the optimization of current baseline expenditures, whose share of total spending has been reduced from 15% to 12.3%," the Vice Minister said.Expenditures of a representative and current nature have also been optimized and redirected to the real sector. This saved about 68 billion tenge by eliminating less priority expenses. (ICE ALMATY)

Fonte notizia: INTERFAX