The Republican Budget Deficit Will Decline to 0.4% of GDP by 2029

The republican budget deficit will decrease from 2.3% of GDP in 2027 to 0.4% of GDP in 2029. This was reported at a Government meeting by Deputy Prime Minister – Minister of National Economy Serik Zhumangarin.

“In order to maintain the sustainability of public finances, the budget deficit has been set at 2.3% of GDP in 2027, with a gradual reduction to 0.4% of GDP by 2029. The non-oil deficit will decrease from 5.3% of GDP to 2.5% of GDP. Accordingly, republican budget expenditures will amount to KZT 30.2 trillion in 2027, KZT 29.4 trillion in 2028, and KZT 29.6 trillion in 2029,”  — Serik Zhumangarin stated.

According to the estimates of the Ministry of National Economy, republican budget revenues will amount to KZT 19.9 trillion in 2027, reach KZT 21.7 trillion in 2028, and increase to KZT 23.4 trillion in 2029.