Budget deficit to reach 3.6 trillion tenge, Kazakh Economy Minister

This year's budget revenues of Kazakhstan are estimated at 14.1 trillion tenge which is 2 trillion tenge less against the approved plan, Deputy Prime Minister – National Economy Minister Nurlan Baibazarov said, Kazinform News Agency reports.

Income assumptions have decreased due to a reduction in oil production by 5.1 million tons at Tengizchevroil since the Future Growth Project is postponed to 2025, Baibazarov told the Majilis plenary session.

He said the budget deficit is predicted to stand at 3.6 trillion or 2.7% of the GDP. Last year budget surpluses made 61 billion tenge. Budget expenditures in 2024 are projected to reach 24 trillion tenge. According to the estimates, the oil deficit will make this year 7.8% of the GDP.