Government approves 2027-2029 draft national budget
The Government of Kazakhstan has approved the country’s Socioeconomic Development Forecast, as well as the draft law on the national budget for 2027-2029, Qazinform News Agency reports.
"It is crucial to ensure the most efficient and timely use of budget funds, prevent any increase in current expenditures, and maintain strict control over spending. With the consideration of discussions, I propose approving the Socioeconomic Development Forecast for 2027-2029," said Prime Minister Olzhas Bektenov.
The Ministry of Finance and the Ministry of National Economy, together with the Government, have been instructed to submit the draft law to the Qurultay.
Earlier, the Ministry of National Economy reported that the average annual real GDP growth in 2027-2029 is projected to exceed 5%. Nominal GDP will increase from 199.3 trillion tenge in 2027 to 245 trillion tenge in 2029.
Finance Minister Madi Takiyev reported that the republican budget revenues are projected to hit 25.6 trillion tenge, or 12.9% of GDP, while expenditures will rise to 30.2 trillion tenge. The budget deficit is forecast at 2.3% of GDP.
