State budget revenues reach almost 11trln tenge, Finance Minister says
In the first half of 2025, Kazakhstan’s budget revenues amounted to approximately 11 trillion tenge or 106.4% of the plan, Kazinform News Agency quotes Minister of Finance Madi Takiyev as saying at the Cabinet’s weekly meeting today.
He said that the national budget has been utilized by 100.5%, with budget overperformance exceeding 31 billion tenge, fueled by import VAT, export customs duties on crude oil and corporate income tax.
“Local budgets also demonstrate steady rise with budget revenues performance reaching 117% or 656.6 billion tenge. Overperformance of the plan was ensured, primarily, by the corporate income tax, individual income tax and social tax. Compared to the same period in 2024, growth rate of revenues for the state budget was 118.8%, for the national budget -122%, and for the local budget – 114.3%. At the same time, additional revenues amounting to 492 billion tenge were received due to the implementation of digitalization, analytical selection and control measures,” he said.
According to him, VAT refund volumes reached 768 billion tenge since the year beginning, or 12% more than the last year’s indicator.
Earlier, at the Government’s meeting, Deputy Prime Minister – Minister of National Economy Serik Zhumangarin said that Kazakhstan’s economic growth hit 6.2%. He also said that inflation may lower to 10% by the year end.