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Guaranteed transfer from National Fund to make 2.7trln tenge in 2020-2021

12 September 2019 12:31

NUR-SULTAN. KAZINFORM The guaranteed transfer from the National Fund to the republican budget will comprise 2.7 trln tenge in 2020-2021. Vice Minister of National Economy Madi Takiyev said it today while making a presentation of the country’s 2020-2024 Socio-Economic Forecast in the Majilis of the Kazakh Parliament, Kazinform correspondent reports.

In his words, the Ministry has drafted the forecast of budget parameters and the National Fund for 2020-2022. The income of the national budget, without consideration of the transfers, will reach 8trln tenge in 2020, 8.6trln tenge in 2021and 9.4trln tenge in 2022. In accordance with the Concept of Formation and Use of the National Fund, the guaranteed transfer to the national budget in 2020-2021 will be 2.7trln tenge with gradual reduction to 2.6% trln tenge in 2022.

According to the Vice Minister, budget deficit in 2020 will be at 2.1% against GDP with further decrease to 1.5% in 2021 and 1.0% in 2022. Non-oil deficit in 2020 will fall to 7% against GDP (8.5% in 2019) with further drop to 5.1% in 2022. With the consideration of the parameters mentioned, the national budget expenditures are predicted at 12.7trln tenge in 2020, 13.2trln tenge in 2021 and 13.6trln tenge in 2022.

Keywords: Economy,