Kazakh Senate adopts revised national budget for 2016-2018

"In 2016 the budget revenues will amount to 3 trillion 655 billion tenge, in 2017 - 3 trillion 867 billion tenge, in 2018 - 4 trillion 195 billion tenge," said the first vice-minister of the National Economy Marat Kussainov presenting the bill. According to his words, the budget expenditures in 2016 will amount to 7 trillion 666 billion tenge, in 2017 - 8 trillion 194 billion tenge, in 2018 - 7 trillion 661 billion tenge. The budget deficit in 2016 will be 723.4 billion tenge - 1.6 percent of GDP; in 2017 - 608 billion tenge or 1.2 percent of GDP, in 2018 - 552.3 billion tenge of 1 percent of GDP. Senators have also adopted the law "On guaranteed transfer from the National Fund for 2016-2018". According to the law the annual guaranteed transfer from the National Fund will amount to 2.4 trillion tenge. As it was previously reported, the national budget for 2016-2017 was updated in view of the changed socio-economic development of Kazakhstan and the situation on foreign markets.