Minister of Finance Bakhyt Sultanov presented amendments to the budget for 2017-2019 at the plenary session of the Majilis.

The Minister of Finance noted that the bill “On Amendments and Additions to the Law of the Republic of Kazakhstan “On the National Budget for 2017-2019” was formed taking into account the adjustment of the forecast of the country's socioeconomic development, following the results of the third quarter of this year.

"Considering that the Kyrgyz Republic initiated the suspension of the procedure for providing technical assistance, during the discussion of the bill within the working group and at the expanded meeting of the Finance and Budget Committee, the relevant amendments were supported,” – Bakhyt Sultanov said.

As the Minister noted, it was suggested to cut expenses and budget deficit by 14.1 billion tenge. Taking into account these changes, the main parameters of the current year are as follows: Budget revenues will amount to 9691.5 billion tenge, with a growth of 62.9 billion tenge, including: non-oil revenues of 4497.2 billion tenge with a growth of 77.9 billion tenge compared to the plan; oil revenues of 5194.2 billion tenge with a decrease of 14.9 billion tenge compared to the plan. Budget expenditures will amount to 11 177.4 billion tenge, with a growth of 1 billion tenge. The deficit will be reduced by 62.0 billion tenge and will amount to 1485.9 billion tenge, or 2.9% of GDP. This corresponds to the guidelines adopted within the framework of the economic union and the new economic policy for the medium term.


Published: 01 November 2017



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