Kazakh president signs 2018-20 budget into law
ASTANA. Dec 4 (Interfax) - Kazakh President Nursulatan Nazarbayev has signed the Law on the Government Budget for 2018-20, the presidential press service said.
Revenue to the budget in 2018, excluding transfers, is forecast to be 5.528 trillion tenge, expenditures to be 9.218 trillion tenge, and the budget deficit to be 639.6 billion tenge, or 1.1% of GDP.
Revenue to the budget in 2019 and 2020, excluding transfers, is forecast to be 6.404 trillion tenge and 7.176 trillion tenge, respectively; expenditures to be 9.798 trillion tenge and 10.220 trillion tenge; and the budget deficit to be 608 billion tenge (1% of GDP) in 2019 and 653.5 billion tenge (1% of GDP).
The inflation target band for 2018 is projected to be 5-7%, 4-6% for 2019, and 3-4% for 2020-2022.
Nazarbayev also signed the Law on Guaranteed Transfer from Kazakhstan's National Fund for 2018-20. Under this law, the government budget will receive 2.6 trillion tenge in 2018, 2.3 trillion tenge in 2019, and 2 trillion tenge in 2020.
The current exchange rate is 331.22 tenge/$1.