Baku, Azerbaijan, Oct. 22
By Rashid Shirinov – Trend:
Issues of improving the inter-budgetary relations system were discussed in Kazakhstan’s Aktobe city during a meeting of the Majilis Committee for Finance and Budget, Kapital.kz reported.
Deputy Governor of the region Olzhas Smagulov introduced the main achievements of the Aktobe region. He noted that in the first nine months of this year, the growth of budget revenues amounted to 11 percent.
"This means that Aktobe region is moving to self-sufficiency. The budget was utilized by 99 percent," he said.
Smagulov further noted that it is necessary to introduce the principle of result-oriented budget. The focus should be on achieving the end results, he stressed.
Director of Budget Policy Department of the National Economy Ministry of Kazakhstan Vagiz Khismatullin, in turn, said that if in 2016, the over-fulfillment of revenues in Aktobe region was 71.9 billion tenge compared to the forecast, in 2017 it totaled 230 billion tenge.
Also, there is an annual growth of allocated subsidies from the national budget. In 2008, their volume was 15.7 billion tenge, and in 2018 – 56.3 billion tenge, he added.
Among the problems existing in the inter-budgetary relations system, Khismatullin noted the weak revenue base of local budgets, when their own revenues do not cover expenditure needs.
It is worth noting that last year Aktobe region provided a record amount of revenues to the consolidated budget — 472 billion tenge, which was a 37 percent increase.
The official exchange rate on October 22 is 366.43 KZT/USD.