The Minister of Finance, Madi Takiyev, clarified:
Revenues of the republican budget have decreased by 2 trillion tenge due to a reduction in tax revenues by 3.1 trillion tenge and an increase in non-tax revenues by 1.1 trillion tenge. A targeted transfer from the National Fund has been increased by 2 trillion tenge to support regional growth levels amid risks of declining economic growth rates.
Economic growth was projected at 5.3%, according to the socio-economic development forecast; however, the actual rate for the current year has settled at 4.1%.
Considering the proposals from deputies, a redistribution of funds for servicing the Government's debt amounting to 150 billion tenge has been provided for.
The budget deficit takes into account the remaining budget funds at the end of 2023 and the attraction of loans for the implementation of certain projects amounting to 136.1 billion tenge.
As a result of these changes, the parameters of the republican budget are as follows:
Revenues for 2024 are projected at 20.4 trillion tenge. Income excluding transfers for 2024 will amount to 14.1 trillion tenge. The budget deficit for 2024 is forecasted at 3.7 trillion tenge or 2.7% of GDP. Budget expenditures will total 24.1 trillion tenge. These volumes comply with budgetary rules regarding guaranteed transfers, the growth rate of expenditures, and the budget deficit.