Kazakhstan's budget revenues hit ₸21.4 trillion in 2025

The minister announced that the budget revenue target was fulfilled at 99 percent.

"State budget revenues amounted to 21.4 trillion tenge, or 99 percent of the plan. Own budget revenues, excluding transfers, stood at 15.3 trillion tenge, an increase of 17.5 percent year on year," Takiyev said.

The plan fell short by KZT 336 billion.

According to the Ministry of Finance, several objective factors contributed to the shortfall:

• A $6 drop in the average oil price from a projected $75 to $69
• A $1.7 billion decline in export volumes
• Reduced tax payments from 134 large enterprises due to the geopolitical situation, down by KZT 709.3 billion, or 36%.

At the same time, Madi Takiyev noted positive changes compared to 2024:

• Own state budget revenues increased by KZT 1.8 trillion (113.2%)
• Tax revenues rose by KZT 2.2 trillion (17.5%)
• Corporate income tax revenues grew by KZT 880 billion (24%)
• VAT revenues increased by KZT 932.5 billion (18%).

As the minister noted, revenue growth was driven by economic expansion, higher corporate income tax and VAT receipts, increased imports, and more efficient tax administration.

"The desk audit effectiveness has also improved. As a result, KZT 388 billion was recovered into the budget. For comparison, in 2024, the figure was KZT 262 billion," the minister said.

Takiyev highlighted that the state continued to meet its obligations to businesses, refunding 1.354 trillion tenge in VAT in 2025, KZT 138 billion more than the previous year.

"Thus, while the plan was not fully met due to external and price factors, the revenue base grew compared to last year. This indicates sustained economic activity and improved tax administration," Takiyev said.

The minister concluded that the Government will continue to focus on increasing non-oil budget revenues, improving tax administration, and reducing inefficient tax benefits.

Earlier, Qazinform News Agency reported that Kazakhstan lowered the 2026 inflation outlook.