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Parliament adopts the report of the Government of Kazakhstan on the execution of the National budget for 2017

by June 15, 2018 Legal

A joint session of the chambers of the Parliament of the Republic of Kazakhstan took place today in Astana, during which the report of the Government of the Republic of Kazakhstan on the execution of the National budget for 2017 was heard and adopted

Minister of Finance Bakhyt Sultanov reported on the execution of the National budget for 2017.

The main objectives of the execution of the National budget for 2017 – preserving the upward trend of economic growth and social welfare, creating conditions for post-crisis development. The economy grew by 4%. Steady GDP growth, with the exception of external factors, was facilitated by growth of industry by 7.1% and the services sector by 2.7%. The budget revenues reached 9.7 trillion tenge. Of these, 48% account for transfers, � B. Sultanov said.

The Minister of Finance noted that the new Tax Code, adopted last year, is aimed at sustainable business development, stimulating investment and improving the country’s competitiveness by improving tax administration. By implementing these changes this year, it is planned to increase tax collection through non-interference in business activities and digitalization of business processes. Their volume this year will reach 17% of the gross domestic product. In the future, until 2025, measures will be taken to increase this figure to 25%.

Also Bakhyt Sultanov reported on the expenditure side of the budget.

99.8% was executed, 11 156 trillion tenge was utilized. All social obligations are fulfilled. In the reporting year, 5.86 million people received pensions and benefits from the budget. 1.9 trillion tenge was spent on this. Motherhood and childhood support is one of the key areas of social policy. Funds for the childbirth allowance amounted to 35.2 billion tenge, which was paid to 392.7 thousand people. 539 600 children from low-income families under the age of 18 were provided with benefits, � the Minister of Finance said.

According to the Ministry of Finance, the national debt in relation to GDP was 26%. According to the latest report of the World Economic Forum, Kazakhstan ranks 11th out of 137 countries in the “State debt” ranking, having improved the rating by 6 positions in comparison with the previous year.

Chairman of the Accounts Committee for Control over the Execution of the National Budget Natalia Godunova presented the conclusion to the report of the Government and voiced proposals for increasing the efficiency of the use of state resources and the implementation of program documents.

Later during the meeting, the Deputies directed a number of questions to Prime Minister B. Sagintayev, Deputy Prime Minister – Minister of Agriculture U. Shukeyev, Minister of National Economy T. Suleimenov.

The question of the Deputy of the Majilis of the Parliament Mikhail Chirkov concerned the improvement of the efficiency of budgetary funds development.

The Prime Minister, in turn, noted that this issue is key in the report of the Government. Bakytzhan Sagintayev pointed out that the effectiveness of spending budget funds is the priority of the work of the Government. In addition, the importance of the recently adopted law on state audit was noted.

We work with the Accounts Committee. Within the framework of the Parliament, in previous years the question of how much we understand the effectiveness of spending budget funds was very hotly debated. In the course of disputes, we came to the conclusion that it is necessary to introduce the concept of the principle of efficiency, audit of spending budgets. Thus, the Law on State Audit was adopted, and a lot of work is being done in this direction, � Bakytzhan Sagintayev answered the question.

At the same time, the Prime Minister stressed that within the framework of the adopted Law on State Audit, work is underway to upgrade the qualifications of accountants, certification of auditors is being conducted. This work has already begun.

In conclusion, Bakytzhan Sagintayev thanked the deputy corps for the support and prompt adoption of the necessary legislative changes to ensure the implementation of the tasks set by the Head of State.

The issues raised by you today, the comments made are very serious. And your opinions and proposals are important to us, we will certainly consider them in the Government and take into account in our work in the future, � Bakytzhan Sagintayev noted.

Source: Government of the Republic of Kazakhstan