Today the Government of the Republic of Kazakhstan, during the meeting chaired by the Prime Minister of the Republic of Kazakhstan Bakytzhan Sagintayev, reviewed the results of the execution of the republican budget for 8 months of this year.

Minister of Finance Bakhyt Sultanov reported that the execution of the budget for 8 months of this year was provided in conditions of economic growth. Positive results of the development of the economy significantly affected the implementation of the revenue side of the state budget.

A positive trend is observed both in the implementation of the current plan, and in the growth rate compared to the same period last year. For example, revenues of the state budget (excluding transfers) increased by 366.9 billion tenge or 108.9% compared to the previous year. Of these, 172.2 billion tenge are accounted for the republican budget, and 195.2 billion tenge – for local budgets.

This factor, coupled with additional sources of support for the financial sector and the revision of general transfers, led to an increase in expenditures of the state budget by almost 3 trillion tenge or 47.6% over the same period last year.

In general, in the first 8 months of this year, revenues of 4 512.3 billion tenge were provided to the state budget (without transfers). Overfulfillment amounted to 194.5 billion tenge or 104.5% of the plan for the report period.

According to the republican budget, the current plan was executed at 102.2%. 3 083.4 billion tenge were raised (under the plan of 3 016 billion tenge), overfulfillment was 67.4 billion tenge. In general, there is a significant increase in all revenues compared to last year.

The revenues of local budgets amounted to 1 429.7 billion tenge. This is 109.8% of the plan for the report period (the amount of overfulfilment of 127.8 billion tenge).

Expenditures of the state budget amounted to 9 021.7 billion tenge or 97.7% of the plan for the report period. During the first eight months of this year, the republican budget spent 7 982.6 billion tenge, or 98.6%, of the plan for the report period. Expenditures of local budgets were executed in the amount of 3 023 billion tenge, or 96.7% of the plan for the reporting period.

It was specially noted that under the Nurly Zhol state program 272.7 billion KZT or 99.9% of the plan was executed in 8 months for the report period. The funds are directed to the development of transport and logistics and industrial infrastructure, modernization of housing and communal services, water and heat supply and sanitation networks, development of infrastructure in the field of education.