Baku, Azerbaijan, Nov. 19
By Elena Kosolapova - Trend: Kazakh Majilis (Parliament's lower chamber) approved the draft law "On Republican Budget for 2015-2017" on Nov. 19, Novosti-Kazakhstan reported.
"Taking into account the update of the socio-economic development forecast for 2015-2019, as well as the President's instructions within the Address to the Nation, the forecast of the republican budget for 2015-2017 years was revised," Minister of National Economy Erbolat Dosaev said presenting the bill at the plenary session in Majilis.
The revenues of the republican budget (excluding transfers) are expected to exceed 4.159 trillion tenge (180.87 tenge = $1) in 2015, 4.606 trillion tenge in 2016 and reach almost 4.972 tenge in 2017.
The revenues of the national budget include transfers from the National Fund in the amount of 707.5 billion tenge in 2015 and 372.5 billion tenge in 2016, Dosaev said.
In addition, the minister noted that in order to implement the instructions given by Kazakh president in the address to the people, 347.5 billion tenge will be allocated in 2015 and 372.5 billion tenge in 2016.
The national budget deficit will amount to 997 billion tenge in 2015, 1.059 trillion tenge in 2016 (2.1 percent of GDP) and 973 billion tenge in 2017, Kazakh Finance Minister Bakhyt Sultanov said earlier.
The budget expenditures were planned at almost 7.307 trillion tenge in 2015, 7.797 trillion tenge in 2016, in 8.01 trillion tenge in 2017.
Edited by C.N.