In Kazakhstan, excluding transfers, 14.9 trillion tenge (around $31 million) was received in the state budget, which amounts to 93.2% of the planned figure. About 9 trillion tenge was allocated to the republican budget. These figures were provided by Kazakhstan's Minister of Finance, Madi Takiev, while presenting the results of the state budget implementation for the first nine months of 2024, reports Ritmeurasia.ru.
Takiev noted that the main reason for the shortfall in revenue was the decline in tax collection. Three key factors affected the achievement of the planned indicators:
- A reduction in oil production: Oil production decreased by 5.3 million tons over nine months.
- A decline in imports by 8.3%, including a 6.5% drop in imports from China and 4% from the EAEU countries.
- Increased VAT refunds: VAT refunds amounted to 946 billion tenge over the past nine months, tripling the figure from the previous year.
At the same time, Takiev noted that the shortfall in tax revenues was compensated by non-tax payments, which, compared to the planned 148 billion tenge for the reporting period, actually amounted to 921 billion tenge. The surplus was primarily due to dividends from state-owned stock packages, amounting to 684 billion tenge. Additionally, revenue from the sale of capital assets exceeded expectations, with 5.1 billion tenge collected against a planned 1.7 billion tenge.
It is important to note that measures in digitalizing administration have proven to be effective tools for improving efficiency. Over the nine months of this year, additional revenues of 794 billion tenge were generated through tax and customs administration.
CentralasianLIGHT.org
October 17, 2024