Economics

Majilis approved revised 2021 budget

Photo: twitter.com
At the plenary session Majilis approved the revised republican budget for 2021, Kazpravda.kz correspondent reports.

As noted in the conclusion to the corresponding bill, the forecast of the republican budget revenues for 2021 is determined in the amount of 7,204,292,142 thousand tenge with an increase of 278,717,836 thousand tenge against the approved plan. The increase in revenues of the republican budget against the approved plan is projected at 437,993,130 thousand tenge. Decrease in income - by 159,275,294 thousand tenge.

In addition, budget expenditures will be increased by 1.3 trillion tenge, which will be used to build roads, infrastructure, improve housing conditions for citizens and provide rural residents with drinking water.

The guaranteed transfer from the National Fund does not change and remains at 2,700 billion tenge. The target transfer from the National Fund has been increased from 1 trillion tenge to 1,850 billion tenge.

The expenditures of the republican budget are projected at 15 334 billion tenge. The budget deficit is projected at 3.5% of GDP. As the Finance Minister Yerulan Zhamaubayev noted, the clarification is aimed at financial support of the events of Nur Otan party’s electoral program, strategic initiatives and instructions of the head of state, as well as measures to combat COVID-19.

"884 billion tenge will be allocated for the implementation of Nur Otan election platform. These funds will be used to build and reconstruct roads, improve housing conditions for citizens, provide clean drinking water and upgrade villages within the framework of the special project Auyl - El besigi, he explained.

In addition, 265 billion tenge will be allocated to finance anti-epidemiological measures to combat coronavirus infection.

"The largest part in the amount of 723 billion tenge is aimed at supporting the real sector of the economy. This will have a multiplier effect on the development of the country in the medium term. As a result, expenditures in this area are planned in the amount of 2.4 trillion tenge, or almost 16% of the total expenditures. The social sphere of the budget as a whole has been increased by 374 billion tenge and amounts to 7.5 trillion tenge, or 48.7% of the total volume of expenditures. Expenditures of power structures are planned in the amount of 1.6 trillion tenge with an increase of 211 billion tenge, "Yerulan Zhamaubayev said.

However, national expenditures have been reduced by 80 billion tenge and amount to 3.3 trillion tenge. As the Minister of Finance explained, the decrease in the expenses of this block is due to the redistribution of the reserve for the President's initiatives.

Author:
Laura Tusupbekova
12:08, 5 May 2021
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