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Monday, September 24th, 2018

Parliament approves the Government report on the National Budget execution for 2016

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The Parliament of the Republic of Kazakhstan at the joint session of the Chambers approved the reports of the Government of the Republic of Kazakhstan and the Accounts Committee on the execution of the National Budget for 2016.

I would like to express my gratitude for the support of the Government Report on the National Budget execution for 2016. Your questions and proposals cover all sectors of the economy, all comments and questions are relevant. And we will carefully study them and take them into account in our future work. The Government faces additional tasks of the Head of State, which were given at the final panel session of the Astana Economic Forum. We need to finish the year with a 4% growth. To do this, we need to do some work and, I think, this will be implemented with your support, � Prime Minister Bakytzhan Sagintayev said, addressing parliamentarians.

As Minister of Finance Bakhyt Sultanov reported, revenues of the 2016 budget reached 7.7 trillion tenge, which is 1.5 trillion tenge higher than 2015. Of these, transfers account for 30 percent. Funds are applied in 98.3 percent, or executed with growth of 1 trillion 338 billion tenge. More than half of the expenditures, or 4 trillion tenge, were directed to the social sphere.

B. Sultanov also talked about plans to create favorable conditions for business by reducing tax inspections. At the same time, tax revenues are expected to increase. According to the Minister, approaches are introduced in tax audits which are based on the principles of trust, transparency and mutually beneficial cooperation – horizontal monitoring.

The Minister also said that it is planned to revise tax preferences, in order to reduce the number of ineffective benefits.

Source: Government of the Republic of Kazakhstan

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