Government considers draft republican budget for 2022-2024

At the government session chaired by the Prime Minister of the Republic of Kazakhstan Askar Mamin, the Forecast of Socio-Economic Development of Kazakhstan for 2022-2026, draft laws "On the Republican Budget for 2022-2024," "On a guaranteed transfer from the National Fund of the Republic of Kazakhstan for 2022-2024," as well as the draft Decree of the President of the Republic of Kazakhstan "On the allocation of a targeted transfer from the National Fund of the Republic of Kazakhstan for 2022-2024" were considered.

Minister of National Economy Aset Irgaliyev, Chair of the National Bank Erbolat Dossaev, Minister of Finance Yerulan Zhamaubayev presented their reports.

The Head of Government noted that the submitted draft of the republican budget, first of all, is aimed at full and timely fulfillment of all social obligations of the state, as well as ensuring high-quality and sustainable development of the economy in the current environment.

The implementation of the anti-crisis macroeconomic policy made it possible to mitigate the effects of the pandemic and launch the process of restoring economic growth rates.

In 2022, it is planned to ensure economic growth up to 3.9%. Nominal GDP will grow from 87.1 trillion tenge in 2022 to 119.9 trillion tenge in 2026.

The target corridor of annual inflation in 2022 will be 4-6% with a subsequent decline to 3-4% in 2026.

The non-resource sector will become one of the main drivers of quality growth and will continue to be a key factor in the stability of the economy.

The main directions of budget expenditures will be to ensure high-quality and sustainable development of the real sector of the economy, entrepreneurship, social infrastructure, incl. health and education systems, culture and sports, as well as security and law and order.

The Head of Government instructed to ensure the submission of the said bills and the Forecast of socio-economic development to the Parliament.

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