The Prime Minister of Kazakhstan

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Activities for realization of the Address to be financed by free budget balances — B. Sultanov

11 January 2018, 13:54

Today, at a press conference following the meeting of the Government, Minister of Finance Bakhyt Sultanov spoke about the mechanism for financing the activities set in the annual Address of the Head of State to the people of Kazakhstan.

According to the minister, today there are free budget balances — 125 billion tenge and more than 100 billion tenge of local budgets in the republic.

"They are a source for clarifying the budget annually. This time they will also be used to implement the President's instructions voiced in the Address," Bakhyt Sultanov explained.

The Minister of Finance stressed that today preliminary calculations are being conducted. Final amounts will be known after the National Plan for the implementation of the Address is ready.

"Then we will begin the corresponding preparatory measures to ensure funding of all the activities outlined in the President's Address," said Bakhyt Sultanov.

As for the issues of responsibility for non-execution of the budget, Bakhyt Sultanov noted that the Ministry of Finance completed the work with all local and central bodies; preliminary decisions were made.

Earlier, at the meeting of the Government, the Minister of Finance announced the preliminary results of the execution of the republican budget for 2017.

"The revenues of the state budget were fulfilled by 102.2%, or 7153 billion tenge was collected. The increase compared to last year amounted to 10.9%," said Minister B. Sultanov.

The republican budget received revenues in the amount of 5012 billion tenge, or 101.2% of the plan. The amount of overfulfilment was 59 billion tenge. Own revenues of local budgets were fulfilled by 104.6%, or with an overfulfillment of 95 billion tenge. According to local budgets, incomes were fulfilled for 2142 billion tenge, or 104.6%.

In addition, in 2017, the implementation of the republican budget expenditures is a record high — 99.8% or 11 156 billion tenge (in 2016 - 98.3%). The growth of expenses in comparison with 2016 was 8%.

The funds allocated under the Nurly Zhol state program have been disbursed by 99.9% or 472.3 billion tenge. Funds are directed to:

  • development of transport and logistics infrastructure — 325.8 billion tenge;
  • development of industrial infrastructure — 16.3 billion tenge;
  • housing and communal services and housing construction — 51.7 billion tenge;
  • development of infrastructure in the sphere of education — 68.1 billion tenge;
  • share of Kazakhstan in joint projects with MFIs — 10.4 billion tenge.