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New Republican Budget: The government anticipates economic growth.

Prime Minister Olzhas Bektenov and members of the Government participated in the plenary session of the Mazhilis of the Parliament of Kazakhstan. During the meeting, lawmakers reviewed and approved the government-proposed bills, including the "Republican Budget for 2025-2027," the "Guaranteed Transfer from the National Fund of Kazakhstan for 2025-2027," and the "Forecast for the Socio-Economic Development of the Country for 2025-2029," as reported by DKnews.kz.
New Republican Budget: The government anticipates economic growth.

Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov presented to the deputies the draft law "On Guaranteed Transfers from the National Fund for 2025-2027" and the Forecast for the Socio-Economic Development of the Country until 2029.

The law "On Guaranteed Transfers from the National Fund of the Republic of Kazakhstan for 2025-2027" has been developed based on the provisions of the Budget Code. It sets a cut-off price for oil at $42.3 per barrel in 2025, and $41–$39.4 per barrel for 2026-2027. Taking this into account, the amount of guaranteed transfers to the republican budget for 2025-2027 is determined to be 2 trillion tenge annually.

The basis for forming the Forecast for Socio-Economic Development of the Country until 2029 is a baseline scenario with an oil price of $75 per barrel and an exchange rate of 470 tenge to the dollar. It is expected that real GDP growth in 2025 will be 5.6%, with an average annual growth of 5.4% over five years. Positive dynamics are forecasted in all sectors of Kazakhstan's economy: average annual growth rates in industry are expected to be 4.1%, including 5.8% in manufacturing and 2.9% in mining. In agriculture, the average annual growth will reach 5.3%, in construction – 9.3%, in transport services – 8.2%, and in trade – 7.1%.

Additionally, an increase in the export of Kazakh goods to $90 billion is anticipated by 2029, along with an increase in republican budget revenues in 2027 to 18.2 trillion tenge, or 16.4%. The main growth will be driven by the pace of economic development, improvements in tax administration, and a reduction in the shadow economy's share.

When presenting the draft law "On the Republican Budget for 2025-2027" to the deputies, Finance Minister Madi Takiyev noted that revenues to the republican budget in 2025 will amount to 21.7 trillion tenge, an increase of 1.2 trillion tenge compared to this year's plan. The budget remains socially oriented. A total of 9.8 trillion tenge is planned for the social sector in 2025, which is an increase of 862 billion tenge from the current year. It was noted that amendments aimed at improving the quality of life for the population and regional development were made to the draft law. Additional expenses are envisaged for providing the population with clean drinking water, developing the heat and electricity sectors, transport and engineering communication infrastructure, regional development, and the implementation of the project "Aul – El Besigi."

Priorities include social security and providing social assistance to citizens. Social payment expenditures for 2025 are set at 6 trillion tenge, accounting for the indexation of social payments and an increase in the number of recipients. Over 1 trillion tenge will be allocated for education in 2025, with an increase of 73 billion tenge. For the healthcare system, 7.6 trillion tenge is planned for the period from 2025 to 2027, including 2.4 trillion tenge in 2025, which is an increase of 180 billion tenge.

In 2025, 7.5 trillion tenge will be allocated to regions from the republican budget, an increase of 405 billion tenge. Supporting the development of the real sector of the economy is also crucial: for this direction, 2.1 trillion tenge is allocated in 2025.

During the plenary session, government members answered questions from parliamentarians. Deputy of the Mazhilis Askat Rakhimzhanov addressed the Prime Minister regarding the Government's plans to fulfill the President's instruction to ensure Kazakhstan's economic growth to $450 billion by 2029.

In response to deputies' questions about GDP growth, budget planning, regional development, key sectors of the economy, social support for the population, the heating season, road repairs, water supply, internet accessibility, pharmaceutical provision for the population, the activities of the domestic film industry, and more, answers were provided by First Deputy Prime Minister Roman Sklyar, Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov, Vice Prime Minister Tamara Duisenova, Finance Minister Madi Takiyev, Minister of Science and Higher Education Sayasat Nurbek, Minister of Education Gani Beysembayev, Minister of Digital Development, Innovations, and Aerospace Industry Zhaslan Madiyev, Minister of Industry and Construction Kanat Sharalpaev, Minister of Healthcare Akmaral Alnazarova, Minister of Culture and Information Aida Balayeva, Minister of Agriculture Aidarbek Sapаров, Minister of Trade and Integration Arman Shakkaliev, and Minister of Labor and Social Protection Svetlana Jakupova.

Following the plenary session, the Prime Minister thanked the deputies of the Mazhilis for their support of the republican budget bill and for the constructive discussion. Olzhas Bektenov emphasized that government members are working closely with the parliamentary corps and that this practice will continue.