Kazakh Mazhilis adopts new budget for next three years

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.

Editor: Aizhan