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Wednesday, November 25th, 2020

Bakhyt Sultanov: The Government has launched the implementation of new mechanisms to control the application of budget funds

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The Government of the Republic of Kazakhstan began implementing new mechanisms to control the application of budget funds. Minister of Finance Bakhyt Sultanov announced this during a briefing at the Government press center.

In addition, the Minister said that the work on the application of budget funds has been significantly intensified in Kazakhstan. Henceforth, the funds of Ministries that have not been fully applied will be transferred to other Ministries.

A manual control mechanism will be used here. Those who do not fully apply the funds will have these funds removed and transferred to those who do apply them,” B. Sultanov noted.

In autumn, the budget will be updated. In the near future, we will announce specific figures. In general, according to the Minister, a lot of work has been done in terms of budget funds application.

He also said that Kazakhstan’s budget deficit will be gradually reduced from 1.1% in 2018 to 1% in 2019-2020. In nominal terms: from 639.6 billion tenge in 2018 to 608 billion tenge in 2019 and 653.5 billion in 2020.

Source: Government of the Republic of Kazakhstan

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