Kazakh govt plans 2027 budget deficit of 2.3% of GDP

ASTANA. Aug 25 (Interfax) - Kazakhstan's government budget expenditures will total 30.2 trillion tenge in 2027, with a budget deficit of 2.3% of GDP, Deputy Prime Minister and National Economy Minister Serik Zhumangarin said.

"To maintain fiscal sustainability, the budget deficit has been set at 2.3% of GDP for 2027, decreasing to 0.4% of GDP in 2029. The non-oil deficit will decline from 5.3% to 2.5% of GDP," Zhumangarin told a government meeting on Tuesday.

With this in mind, government budget expenditures will amount to 30.2 trillion tenge in 2027, 29.4 trillion tenge in 2028 and 29.6 trillion tenge in 2029, he said.

Accumulations in the National Fund are also expected to rise. Under the baseline scenario, total inflows to the National Fund are forecast at 5.1 trillion tenge in 2027, 5.5 trillion tenge in 2028 and 5.7 trillion tenge in 2029.

Net inflows to the National Fund are projected at 0.5 trillion tenge in 2027, 1.4 trillion tenge in 2028 and 2 trillion tenge in 2029.

The National Fund's foreign currency assets are expected to rise from $65.2 billion in 2027 to $70.6 billion in 2029.