BAKU, Azerbaijan, Oct.20
Deputies of the Mazhilis (Lower House) of Kazakhstan’s Parliament approved the draft law "on a guaranteed transfer from the National Fund of Kazakhstan for 2022-2024", Trend reports citing Kazinform.
According to Minister of National Economy of Kazakhstan Asset Irgaliyev, it is proposed to determine the guaranteed transfer from the National Fund to the republican budget in the amount of 2.4 billion tenge ($5.6 million) in 2022, 2.2 billion tenge ($5.2 million) in 2023, and two billion tenge ($4.7 million) in 2024.
The minister explained that the guaranteed transfer is proposed to be directed to the payment of solidarity pensions and state basic pension payments from the republican budget.
It is noted that the budget deficit in Kazakhstan in 2022 is projected at 3.3 percent of GDP with a subsequent decline to 2.5 percent of GDP in 2024.
Also, the non-oil deficit in 2022 is projected to be 8.1 percent of GDP (in 2021, 10.6 percent of GDP) with a subsequent decline to 6.3 percent of GDP in 2024.