The Mazhilis, the
Lower House of the Kazakh Parliament, has adopted the new budget for the next
three years. The draft law has been developed based on the forecast of the
country’s socio-economic development until 2028. According to the document,
expenditures will amount to around 24 trillion tenge in 2024, which is 1.5
trillion more than the current year. Additionally, there are plans to obtain
transfers of over 3.5 trillion tenge from the National Fund of Kazakhstan for
financing social and strategic infrastructure projects. The bill has been
submitted for consideration to the Senate.
“Regional
development is another important area of budget expenditures. For these
purposes, over seven trillion tenge, constituting about 30 percent of the total
budget expenditure, is earmarked from the state budget. Additionally, 120
billion tenge will be allocated to finance major projects in the manufacturing
sector,” said Yerulan Zhamaubayev, Kazakh Deputy Prime Minister and Finance
Minister.