The Mazhilis has commenced work on the draft law regarding the republican budget for the years 2024-2026, reports a correspondent from the business information center Kapital.kz.
"The project has been developed due to changes in the indicators of the republican budget in two main areas. First, the revised revenue forecast for 2024 has been decreased by 2 trillion tenge compared to the approved plan. At the same time, it is planned to additionally attract 2 trillion tenge from the National Fund as a targeted transfer," stated Deputy Tatyana Savelieva.
The parameters for expenditures and the deficit of the republican budget have been adjusted in light of the government's corrections and the use of unspent budget funds from 2023 totaling 61.3 billion tenge.
"As a result, the revised expenditures of the republican budget are projected to increase by 61.3 billion tenge compared to the approved figure. The deficit for the current year will amount to 3.6 trillion tenge, also with an increase of 61.3 billion tenge," she noted.
During the meeting, the Mazhilis deputies also voted to take into consideration the draft law on the ratification of the loan agreement from the Asian Development Bank.
"The ADB loan is provided to the Republic of Kazakhstan in the amount of 52.3 billion yen with a repayment period of 15 years, including a grace period until June 1, 2027," clarified Tatyana Savelieva while presenting the bill.
It is worth noting that as of January 1, 2024, the assets of the National Fund amounted to 29.8 trillion tenge. From January to October, the national treasury received 5.8 trillion tenge. Over the 10 months, 4.6 trillion tenge was withdrawn from the fund. Thus, as of November 1, 2024, the assets of the National Fund totaled 30.9 trillion tenge.
Previously, Kapital.kz reported that the Ministry of Finance plans to make changes to the law on the republican budget for 2024-2026. "The revised revenue forecast for the republican budget without the transfer revenues for 2024 is set at 14.1 trillion tenge, which is a decrease of 2 trillion tenge compared to the approved plan, including a decrease in tax revenues by 3.1 trillion tenge," the document states. The draft law increased the amount of transfers from 4.1 trillion tenge to 6.1 trillion tenge.