At the end of 2024, Kyrgyzstan became the only country in the Eurasian Economic Union (EAEU) to finish the year with a surplus in the republican budget. Compared to 2023, this figure increased 2.5 times, reaching 33.5 billion soms (or $400 million), Akchabar.kg reports.
Meanwhile, other member states of the union experienced a deterioration in their budgetary indicators. In Armenia, the budget deficit doubled, reaching $1 billion. In Kazakhstan, this figure in national currency increased by 16.9%, amounting to the equivalent of $7.8 billion, while in Russia, the surplus in rubles grew by 7.5%, but in dollar terms, it decreased by 1.57% to $37.6 billion.
The highest revenue growth was recorded in Russia (+26%) and Kyrgyzstan (+16.5%). In the latter, this contributed to strengthening the surplus, whereas in Russia, the revenue increase was only slightly higher than the expenditure growth (+24.2%), which did not improve the budget balance.
Kazakhstan and Armenia faced a situation where government spending outpaced revenue growth. In Kazakhstan, expenditures rose by 17.2%, leading to a widening deficit, while in Armenia, this gap contributed to a twofold increase in the deficit.
CentralasianLIGHT.org
March 10, 2025