Transparent and
flexible, it will significantly simplify and streamline budgetary processes
while enhancing the quality of public finance management. These are the main
criteria and objectives set before the new Budget Code. The Kazakh government
reviewed the draft document, presented by Minister of National Economy Alibek
Kuantyrov. According to him, the recommendations of experts, both domestic and
foreign, feedback from the Supreme Audit Chamber and, of course, the
instructions of the Head of State were all considered during its preparation.
There are many developments to note. One of them is a provision in the draft of
the new Code that stipulates the use of funds from the National Fund only for
financing critical infrastructure and strategic projects.
“Critical
facilities will include the construction projects such as factories that will
create jobs and generate additional tax revenue. Also, essential infrastructure
projects fall into this category. At the national level, there are initiatives
like the Comfortable School project, which involves simultaneously building
identical facilities in several regions. A dedicated section outlines
provisions for the National Fund for Children. According to the Concept of
Public Finance Management until 2030, these will be targeted allocations
designated for children each year until they reach the age of 18. The amount
that can be transferred from the National Fund for the specific allocations is
limited,” Kuantyrov said.
Government discusses
progress of harvesting campaign
The Kazakh
government discussed another topical issue, specifically the progress of the
harvesting campaign in the country. According to the Kazakh Minister of
Agriculture Aidarbek Saparov, the area of grain and legume crops this year
exceeds 17 million hectares. Currently, 40 percent of them have been
harvested. On average, farmers are
collecting around 10 centners per hectare. As Saparov noted, the reason is
prolonged rains in the grain-sowing regions. Nevertheless, according to the
Kazakh Prime Minister Alikhan Smailov, all necessary measures have been taken,
including financing and logistical support for the harvest campaign. Smailov
instructed the government to meet the deadlines and provide assistance to
farmers, ensuring round-the-clock acceptance of the crop in storage and grain
drying facilities.
“The Kazakh
Ministry of Energy will allocate an additional volume of diesel fuel for grain
drying. The Baiterek national holding company is in the process of
restructuring loan debts, as well as prolongation of commodity loans through
the Food Corporation without applying penalties for farmers affected by adverse
weather conditions. Weather conditions will be recognized as force majeure
circumstances. It is necessary to ensure full payment of subsidies,” said
Smailov.
