Kazakhstan set to cut budget deficit to 1.4% by 2028, PM
Kazakh Prime Minister Olzhas Bektenov revealed the Government’s plan to cut the republican budget deficit soon, Kazinform News Agency reports.
Addressing the joint sitting of the Parliament’s Chambers, the Prime Minister said the Government is developing a draft republican budget for the three years ahead. It is projected to reduce the deficit from the current 2.7% to 2.5% by 2026, to 1.8% by 2027 and 1.4% by 2028.
He reminded as part of the tax reform, thanks to the new Tax Code, the republican budget will receive additional revenues of about 3 trillion tenge since next year. These funds will be spent on the development of infrastructure, energy, transport networks and utilities to create a foundation for long-term and sustainable economic growth.
Earlier Kazinform reported Kazakhstan’s budget deficit hit KZT 3.6 trillion in 2024.