Kazakhstan’s 2025 budget deficit projection to rise 14%

The budget deficit forecast for 2025 is set to increase 14% or 501 billion tenge compared with last year. This was said by member of the Supreme Audit Chamber Ardak Tengebayev during the presentation of the 2025-2027 draft republican budget, Kazinform News Agency correspondent reports.

According to Tengebayev, the country failed to found news sources of budget revenue.

The budget deficit forecast for 2025 is set to increase 14% or 501 billion tenge. To maintain a balanced budget, the country will traditionally turn to the national fund or raising loans, he said.

Tengebayev went on to add that transfers from the national fund are to rise as well in 2025, accounting for 20% of the budget spending or 5.3 trillion tenge.

This will lead to increase in the non-oil budget deficit from 6.6% to 7.3% of the GDP. The bulk of the funds of the national fund are expected to be drawn as target transfers, he added.

Tengebayev expressed concern over the growth in the state debt, which has been at 12% on average in the past five years, nearing the GDP growth rate.

In 2025, repayment and servicing of state loans are set to be estimated at 6.1 trillion tenge, 38% of the total revenues or 24% of the total expenses of the natural budget, increasing the risk of solvency of the state, he said.