Budget deficit expected in Kazakhstan until 2018
Baku, Azerbaijan, Sept. 15
By Elena Kosolapova - Trend:
State budget deficit is expected in Kazakhstan in the coming years, the message of the press service of the Majilis said Sept.15.
The deficit is envisaged by the government's draft budget for 2016-2018, which was presented Sept.14 in the Majilis (lower house of parliament) of Kazakhstan.
"The budget deficit is projected at 723.4 billion tenge (273.55 tenge = $1) in 2016, 600.8 billion tenge in 2017 and 552.3 billion tenge in 2018," said the message.
Given the projected GDP growth and import volumes, revenues of the republican budget (excluding transfers) are projected at 3.513 trillion tenge in 2016, 3.724 trillion tenge in 2017 and 4.132 trillion tenge in 2018.
Kazakh budget expenditures are projected at 7.319 trillion tenge in 2016, 7.731 trillion tenge in 2017 and 7.457 trillion tenge in 2018.
Total revenues of the republican budget in 2016 will amount to 6.595 trillion tenge, 7.13 trillion tenge in 2017 and 6.905 trillion tenge in 2018. The guaranteed transfer from the National Fund of Kazakhstan for three years is set at 2.3 trillion tenge.
This is in line with the limits set by the concept of formation and use of the National Fund. The target transfer from the National Fund for the continuation of the implementation of the State program of infrastructure development "Nurly Jol" is provided in 2016 in the amount of 461.5 billion tenge, and 750 billion tenge in 2017.
Formation of the draft budget was carried out taking into account the instructions of the head of state on the establishment of a moratorium until the end of 2018 on the allocation of funds from the state budget for new initiatives, with the exception of ongoing projects with a high level of execution.
This draft budget provides socially significant activities related to the support of the most vulnerable segments of the population, the implementation of which became possible by optimizing the base costs.
The draft law of Kazakhstan "On republican budget for 2016-2018" was developed on the basis of socio-economic development and budgetary parameters of Kazakhstan for 2016-2020.
Edited by CN
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