As of August 1, 2024, the state treasury in Kazakhstan continues to experience a deficit, according to the report by the Ministry of Finance of Kazakhstan on the execution of the republican budget. The size of the deficit has already reached 1.2 trillion tenge ($2.48 billion), reports Kazinform.
According to the document, the budget of Kazakhstan was supposed to receive 11.5 trillion tenge, but in reality, revenues amounted to only 10.2 trillion tenge—just 88.8% of the plan. The deficit has already amounted to about 1.2 trillion tenge.
A significant factor in this was tax revenue—instead of the planned 7.7 trillion tenge, Kazakhstanis contributed only 6 trillion tenge to the state budget. The shortfall in value-added tax amounted to about 1 trillion tenge—only 2.5 trillion tenge was collected out of the planned 3.5 trillion tenge. The deficit in corporate income tax was at the level of 639.4 billion tenge.
Non-tax revenues, on the other hand, exceeded their targets. Revenues from them were expected to be around 120 billion tenge, but they exceeded 876.8 billion tenge—nearly 727% above the plan. The majority came from income from state property.
Budget expenditures as of August 1 were supposed to amount to 13.5 trillion tenge, but they ended up at the level of 12.9 trillion tenge. Transfers from the National Fund to the republican budget amounted to 2.9 trillion tenge instead of the expected 3.4 trillion tenge.
It is worth noting that in 2023, Kazakhstan's budget deficit amounted to 3.1 trillion tenge, and in 2022 - to 2.3 trillion tenge.
CentralasianLIGHT.org
August 26, 2024