Kazakhstan to integrate digital tenge into budget system

Kazakhstan's Ministry of Finance and National Bank will soon ensure the use of the digital tenge in national and local budgets, as well as in the budgets of state-owned holding companies, Kazinform News Agency correspondent reports.

photo: QAZINFORM

Prime Minister of Kazakhstan Olzhas Bektenov stated that cashless payments are crucial in the fight against the shadow economy.

“Pilot projects are underway in certain regions, utilizing the digital tenge for: highway and railway construction, subsidizing the acquisition of cattle and agricultural equipment, and refunding VAT,” he noted.

Earlier, Kazinform reported that the digital tenge will be officially recognized as the national currency.