Budget revenues reduced by 2 trillion tenge in 2024, Finance Minister

At today’s Majilis session Kazakh Finance Minister Madi Takiyev presented the draft Law on the Republican Budget adjustment for 2024, Kazinform News Agency reports.

The budget revenues (excluding transfers) were reduced by 2 trillion tenge due to a decrease in tax revenues by 3.1 trillion tenge and an increase in nontax revenues by 1.1 trillion tenge, the minister said. Targeted transfers from the National Fund rose by 2 trillion tenge to support regional development amid economic downside risks.

He said socio-economic development growth was projected at 5.3% against 4.1% recorded this year.

The minister noted the draft law envisages redeployment of funds for the Government's debt service as proposed by the deputies to the amount of 150 billion tenge. Adjustments also provide for the attraction of loans for the development of specific projects worth 136.1 billion tenge.