At the Government session chaired by Prime Minister Olzhas Bektenov, the Socio-Economic Development Forecast and the draft Republican Budget for 2027–2029 were approved. Key priorities include maintaining macroeconomic stability, fulfilling social obligations, stimulating economic growth, and accelerating the construction of infrastructure and social facilities.

Deputy Prime Minister and Minister of National Economy Serik Zhumangarin presented a report on the Socio-Economic Development Forecast. Timur Suleimenov, Chairman of the National Bank, addressed issues regarding inflation, the balance of payments, and the National Fund. Minister of Finance Madi Takiyev reported on the draft Republican Budget for 2027–2029.

According to the forecast, average annual real GDP growth in 2027–2029 is expected to exceed 5%. Nominal GDP will increase from 199.3 trillion tenge in 2027 to 245 trillion tenge in 2029.

Olzhas Bektenov noted that achieving the approved economic growth targets and ensuring the efficient use of budget funds remain under the constant supervision of Head of State Kassym-Jomart Tokayev. From January to July, Kazakhstan's economy grew by 4.1%, and by the end of the year, it is necessary to ensure GDP growth of no less than 5%.

“The Head of State keeps the achievement of approved economic growth targets and the efficient use of budget funds under constant control. The forecast takes into account the current economic situation, external development conditions, and assessments by international financial organizations regarding global economic growth and external market conditions. The draft law on the republican budget was formed taking into account the need to maintain macroeconomic stability while simultaneously addressing the tasks of social security for the population and stimulating economic growth,” Olzhas Bektenov emphasized.

In line with the Head of State's instructions, one of the main priorities of the 2027–2029 budget is the accelerated construction of infrastructure and social facilities. Special attention will be paid to budget efficiency and financial discipline.

Government bodies were instructed to ensure the achievement of the set socio-economic development parameters, while administrators of budget programs were directed to increase the return on every spent tenge and strengthen financial discipline, directing resources toward fulfilling state obligations and developing the economy, regions, and human capital.

The Ministry of Finance and the Ministry of National Economy, together with the Prime Minister's Office, were instructed to ensure the submission of the bill to the Kurultai. Coordination was assigned to Deputy Prime Minister and Minister of National Economy Serik Zhumangarin.

#Olzhas Bektenov #The Prime Minister of the Republic of Kazakhstan #Budget #Economy

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