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Government considers the forecast for budget parameters and the National Fund for 2018-2020

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The Government meeting chaired by Prime Minister Bakytzhan Sagintayev reviewed the forecast for budget parameters and the National Fund for 2018-2020.

Minister of National Economy Timur Suleimenov reported that the revenues of the National Budget (excluding transfers) are projected in 2018 in the amount of 5 528.4 billion tenge, in 2019 � 6 403.9 billion tenge, in 2020 � 7 175.8 billion tenge . The budget deficit in 2018 is proposed to be reduced to 1.1% of GDP, in 2019-2020 � to be determined at the level of 1.0% of GDP.

In view of the projected revenues and the planned deficit, the forecast of expenditures of the National Budget in 2018 was determined in the amount of 9.2 trillion tenge, in 2019 – 9.7 trillion tenge, in 2020 – 10.2 trillion tenge.

Taking into account the projected revenues to the National Fund at an oil price of 45 USD per barrel and a reduction of the guaranteed transfer, the total amount of the National Fund’s resources in 2020 is projected to be 62.4 billion USD (32.5% of GDP), the Minister said.

Source: Government of the Republic of Kazakhstan

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