Kazakh parliament approves reports on public budget enactment for 2023

Kazakhstan Materials 21 June 2024 13:20 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, June 21. Deputies of the Parliament of Kazakhstan have approved the reports of the government and the Supreme Audit Chamber on the execution of the republican budget for 2023, Trend reports, referring to the press service of the Majilis (lower house of the Parliament).

According to the year's results, real economic growth amounted to 5.1 percent. However, taxes were shorted to the national budget (1.4 trillion tenge, or about $3.03 billion) and the National Fund (1.6 trillion tenge, or about $3.46 billion).

As of January 1, 2024, the government's debt amounted to 25 trillion tenge (approximately $54.1 billion). Internal borrowing to finance the budget deficit accounts for 72 percent of its structure.

Non-implementation of expenditures for 2023 amounted to 73 billion tenge (about $158.2 million). Along with weak administration and uncoordinated actions of central and local executive bodies, inefficient use of budget funds amounted to 489 billion tenge (approximately $1.06 billion). Meanwhile, the volume of non-utilization and return of unused targeted transfers decreased by 29 billion tenge (approximately $62.8 million), while detected irregularities and balances on cash control accounts of quasi-sector entities increased by 97 billion tenge (approximately $210.2 million) compared to 2022.

One of the key factors influencing the inefficient use of funds is the poor elaboration of targets, indicators, and results indicators at the planning stage. For 50 percent of all macro-indicators, there is no performance data, as they rely on statistical data and are formed much later than the reporting period.

A number of the Supreme Audit Chamber recommendations for the 2022 report have not been implemented and are being worked out under the new budget and tax codes. This includes systematically assessing tax incentives, prioritizing strategic over budgetary planning, and revising the dividend policy. At the end of 2023, this list was expanded to include proposals to correct development expenditures, encompass the full public administration sector, including extra-budgetary funds, and strengthen debt sustainability indicators.

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