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In the structure of expenses, social sector occupies 44.7% — Alikhan Smailov about draft law on republican budget for 2020-2022

Tuesday, 27 August 2019, 16:08:51

At the Government session chaired by the Prime Minister Askat Mamin, draft laws "On Volumes of General Transfers between the Republican and Regional Budgets, Budgets of Cities of Republican Significance, the Capital for 2020-2022," "On a Guaranteed Transfer from the National Fund of the Republic of Kazakhstan for 2020-2022 ”and “On the Republican Budget for 2020-2022” were presented.

Minister of National Economy Ruslan Dalenov, introducing draft laws, noted that general transfers are aimed at equalizing the budgetary provision of the regions and increasing motivation in the development of the regional economy.

In more detail, the minister focused on the features of calculating these transfers. So, one of the features of calculating transfers is the stimulation of local executive bodies in the development of small and medium-sized businesses.

“For this, the transfer of corporate income tax from small and medium-sized businesses to local budgets from 2020 is envisaged,” the minister said.

In addition, the calculation of general transfers will take into account the characteristics of the regions. New coefficients have been introduced for this. These are the small number of schools, the potential volume of agricultural production, the area, the amount of housing, the share of small and medium-sized businesses in the internal regional product of the region.

“Based on the foregoing, the general forecast of local budget expenditures was determined in 2020 in the amount of 4.8 trillion tenge, in 2021 — 5.1 trillion tenge, in 2022 — 5.4 trillion tenge,” Dalenov informed.

First Deputy Prime Minister – Minister of Finance Alikhan Smailov introduced the draft law "On the Republican Budget for 2020-2022." The project aims to implement the key tasks set for the country in the medium term. In particular, such as ensuring stable economic conditions, improving the quality of administration of budget revenues, fiscal decentralization and increasing the independence of regions, streamlining budget expenditures and others.

The main parameters of the draft republican budget are formed in the following volumes: revenues for 2020 will amount to 11.2 trillion tenge, the share of non-oil revenues is growing steadily from 61.4% this year to 71.2% in 2022, the budget deficit is planned to be phased out up to 1% of GDP in 2020. Expenditures in 2020 are planned in the amount of 12.7 trillion tenge. At the same time, the growth rate of expenditures does not exceed GDP growth indicators.

Social expenditures for 2020 are planned in the amount of 5.7 trillion tenge. 304 billion tenge is additionally provided for annual indexation and increase in recipients of pensions and benefits. In addition, from 2020 a complete transition to compulsory social health insurance will be implemented. In this connection, expenses in this area increased by 217 billion tenge. In general, in the structure of expenditures, the social sector occupies 44.7%.

2.1 trillion tenge is provided for supporting the development of the real sector of the economy for 2020.

Together with the Office of the Prime Minister, the bill will be prepared for submission to the Majilis of the Parliament.

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