Kazakhstan's budget revenues expected to rise by 2.8 trillion tenge in 2027

Amrin made the remarks during a presentation of the draft law “On the Republican Budget for 2027-2029.”

Revenues in 2027 are projected at 19.9 trillion tenge, or 10.0% of GDP. Compared with the estimate for the current year, growth will amount to 2.8 trillion tenge, said Amrin.

The main increase in budget revenues is expected to come from economic growth, contributing 1.6 trillion tenge, while a 1.1 trillion tenge reduction in VAT refunds is also expected to boost revenues. Another 0.5 trillion tenge is attributed to other factors.

At the same time, revenues from certain sources are projected to decline by 0.5 trillion tenge.

The largest shares of tax revenues are expected to come from value-added tax (VAT) and corporate income tax. Non-tax revenues are projected at 377 billion tenge, while special revenues are expected to amount to 18 billion tenge.

The guaranteed transfer from Kazakhstan’s National Fund is set at 2.43 trillion tenge in 2027 and 2028, and 2 trillion tenge in 2029.

The head of state has outlined a course toward a ‘large-scale construction’ drive and noted the possibility of using National Fund resources. A task has been set to implement a large-scale program for the construction of social and infrastructure facilities. The net foreign-currency assets of the National Fund are projected at 65.2 billion US dollars in 2027, increasing to 70.6 billion US dollars in 2029, said Amrin.

Earlier, Qazinform reported Kazakhstan had raised its oil-price assumption for the draft republican budget for 2027-2029 to $70 per barrel from $60 per barrel in the current budget.