25.05.2021, 12:35 18104

Tokayev changed republican budget for 2021-2023

The debt of local executive bodies doubled over the year, despite the fact that all regions, with the exception of four donor regions, are subventional.
Kassym-Jomart Tokayev, President of Kazakhstan, has changed the republican budget for 2021-2023, the presidential press office said.
 

The head of state has signed the law of the Republic of Kazakhstan" On Amendments and Additions to the Law of the Republic of Kazakhstan "On the Republican Budget for 2021-2023," said the report.

 
Kazakhstan's national debt has been growing rapidly - in just a year it increased by T4.2 trillion, or 25%. Debt servicing costs have also been growing reaching about T1 trillion in 2021. According to the forecast, the peak of the government debt repayment falls on 2023, and now it is necessary to find additional T1.5 trillion.
 
The debt of local executive bodies doubled over the year, despite the fact that all regions, with the exception of four donor regions, are subventional. There may be risks of imposing their obligations on the republican budget.
 
The growth of expenditures of the republican budget was traditionally ensured by the transfer from the National Fund to T850 billion and an increase in the volume of the deficit to T2.76 trillion, or up to 3.3% of GDP. To finance the deficit, it continues to use international loans with the current trend of growth in government liabilities. For this purpose, an external loan of 1.5 billion euros was taken in 2020.

Source: KazTAG


 
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