22.10.2025, 15:55 130831

Majilis passes three-year republican budget for the years 2026-2028

Majilis passes three-year republican budget for the years 2026-2028
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Kazakhstan’s Majilis approved on Wednesday the republican budget for the years 2026-2028, Kazinform News Agency reports.

The final provisions of the draft law specify the country’s macroeconomic forecasts for 2026/28 are calculated based on the GDP data reports for 2024 and forecasts for 2025, global economic growth forecasts and commodity price changes.

The 2026/28 republican budget draft law was drawn up based on the baseline variant, providing for stable moderate growth rates, lowering inflation, financial and commodity markets stability.

The country’s GDP is expected to grow at 5.3% annually on average in the upcoming medium-term.

Nominal GDP is forecast to grow from 183.8 trillion tenge in 2026 to 229.8 trillion tenge in 2028. Annual inflation is set within the target corridor from 9.0 to 11.0% in 2026, 5.5-7.5% in 2027, and 5.0-7.0% in 2028.

Republican budget revenues are projected at 19.2 trillion tenge in 2026, 21.2 trillion tenge in 2027, 23.2 trillion tenge in 2028, while expenditures at 27.7, 28.7, and 29.7 trillion tenge in 2026, 2027, and 2028, respectively.

The budget policy will continue to meet full and timely fulfilment of state social obligations, human capital development through increased support for science, education, and health.
 

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