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The Senate presented the main financial documents of the country

by October 25, 2019 Legal

The Senate hosted the presentation of draft laws on the republican budget for 2020-2022 , on guaranteed transfers from the National Fund for 2020-2022 , on the volume of general transfers between the republican and regional budgets , the budgets of cities of republican significance, the capital for 2020-2022 .

Republican budget expenditures in 2020 will amount to 12.9 trillion. tenge, increasing by 886.2 billion. tenge to the plan of 2019 the year .

46% of the total expenditures of the republican budget are directed to the development of the social sphere. The main share of social spending as a whole falls on social security and the provision of social assistance to citizens of the country. At the same time, a significant share of these expenses is made up of social payments; in 2020, the volume of financing of these payments was increased by 276.7 billion tenge compared to 2019.

Health system spending for 2020�2022 will amount to 4.7 trillion. tenge, of which in 2020 – 1.5 trillion. tenge or an increase of 298.5 billion tenge to the level of 2019 . This growth is primarily associated with an increase in the salaries of medical workers within the framework of the guaranteed volume of medical care and the transition to OSMS.

Real GDP growth is projected at 4.1% in 2020, with further growth to 4.7% in 2024. The average annual GDP growth rate for the upcoming medium-term period will be 4.4%. The National Bank maintained the target corridor of annual inflation in the range of 4.0�6.0% in 2020�2021, with a subsequent decrease to 3.0�5.0% from 2022.

In general, the revenues of the republican budget (excluding transfers) in the three-year period will amount to: 8.1 trillion in 2020. tenge or 10.9% of GDP; in 2021 – 8.7 trillion. tenge or 10.6% of GDP; in 2022 – 9.5 trillion. tenge or 10.7% of GDP.

Size Warranty th transfer and from the National Fund to the republican budget is defined in the 2020 – 2021 years of $ 2 trillion. 700 billion tenge with a decrease to 2 trillion. 600 billion tenge in 2022.

General transfers are aimed at equalizing the budgetary provision of the regions and increasing motivation in the development of the regional economy. The volumes of transfers are calculated taking into account the peculiarities of the regions, stimulating the M&E in the development of SMEs, and also taking into account the growth potential of local income.

Given the exemption of micro and small business income from taxation and the allocation of funds to increase the salaries of teachers, cultural and art workers by targeted transfers, the volumes of subventions and withdrawals have been adjusted.

With this in mind, transfers of a general nature are defined in the following volumes: budget withdrawals : in 2020 – 420 billion tenge ; in 2021 – 451 billion tenge ; in 2022 – 490 billion tenge ; budget subventions : in 2020 – 2 trillion. 104 billion tenge ; in 2021 – 2 trillion. 121 billion tenge ; in 2022 – 2 trillion. 125 billion tenge .

Thus, in 2020�2022, 13 subventional and four donor regions were identified .

The presented bills will be considered at an expanded meeting of the Senate Finance and Budget Committee on November 21, before which the discussion will be held in working groups.

Source: Mazhilis of the Parliament of the Republic of Kazakhstan