ASTANA - In the first quarter of 2026, Kazakhstan recorded a strengthening of budget revenues, while inflation slowed. According to the Ministry of National Economy, the state treasury (excluding transfers) increased by 6,444.9 billion tenge ($13.5 billion), compared to a planned 6,176.2 billion ($12.9 billion). Execution was 104.4%, 16.9% higher than the same period in 2025, Forbes.kz reports.
The national budget was executed by 101.8%, with 4,159.4 billion tenge received. The main increase was driven by tax revenues, which increased by 31.5% to 4,077.6 billion tenge, thanks to favorable export prices and improved administration. Revenues from the mineral extraction tax increased by 35.7%, VAT on imports by 24.2%, and corporate income tax by 16.9%.
The number of official taxpayers is growing: 392,000 self-employed individuals and 10,000 new VAT payers have registered since the beginning of the year. Local budgets also showed growth of 3.1%, collecting 2,285.5 billion tenge.
Amid stable revenues, annual inflation has declined for the sixth month in a row: from a peak of 12.9% in September 2025 to 11.0% in March 2026. The monthly price growth rate slowed to 0.6%. The Ministry of National Economy forecasts inflation to reach single-digit levels by early 2027.
Tax revenues to the republican budget are projected to reach 18.886 trillion tenge in 2026—4.4 trillion tenge more than the actual 2025 total.
CentralasianLIGHT.org
April 8, 2026