Azerbaijan, Baku, Oct. 23 / Trend E. Kosolapova/
The Kazakh Majilis (Parliament's Lower Chamber) at the plenary session approved the draft law 'On the Republican budget for 2014-2016', Kazinform reported.
The bill was developed on the basis of a macro-economic outlook for 2014 - 2016.
According to Kazakh Economy and Budget Planning Minister Erbolat Dosaev, national budget revenues are forecasted at 5 trillion 760.7 billion tenge (153.78 tenge=$1) in 2014, at 6 trillion 224.6 billion tenge in 2015 and at 6 trillion 873.4 billion tenge in 2016.
Kazakh national budget expenditure will reach 6 trillion 703.7 billion tenge in 2014, 7 trillion 207.2 billion tenge in 2015 and 7 trillion 836.9 billion tenge in 2016.
The budget deficit for 2014 was set at 942.4 billion tenge (2.4 per cent of the forecasted GDP). The budget deficit for 2015 was set at 977.7 billion tenge, or 2.2 per cent of GDP and for 2016 - at 963.5 billion tenge, or 1.9 per cent.