Consolidated budget surplus narrows in July as republican budget deficit widens – as planned

KAZAKHSTAN - In Brief 25 Aug 2022 by Alexander Kudrin
The Ministry of Finance of Kazakhstan reported that in 7M22, the authorities were able to accumulate KZT11.853 trln of revenues in the consolidated budget out of KZT18.612 trln targeted for the full year. This budget accounts for budgets of all levels, the National Fund, and state social funds, and is net of mutual transfers. Even though in July revenue collection slowed compared to previous months, the overall amount collected in 7M22 suggests that in 2022 total revenues may exceed the target. In July, the authorities collected in the consolidated budget only around KZT1.30 trln, while in 1H22 average monthly figure was higher (around KZT1.76 trln). However, in the rest of the year monthly revenue collection is expected to bounce back as repair works that affected production on Kashagan oil field have been accomplished. In 2022 as a whole, the consolidated budget assumes around KZT3.00 deficit, while in 7M22 it was in surplus (around KZT0.88 trln). The surplus narrowed in July (from KZT1.43 trln in 1H22) amid increased transfers to the republican budget. These developments were generally expected as in 2H22 budgetary expenditures were supposed to rise in the aftermath of massive amendments to the initially approved budget. In 7M22, the Republican budget received KZT5.436 in transfers, and the annual amount to be received is KZT9.813 trln. The total deficit of the republican budget is targeted at KZT2.978 trln. In 7M22 it was at KZT0.985 trln. As can be seen, the deficits of the republican and the consolidated budgets are planned to be more or less the same. Though the most likely outcome is that the consolidated budget will post a smaller deficit – assuming no more di...

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2025 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.