Kazakhstan projects budget deficit for 2022

NUR-SULTAN. KAZINFORM «The budget deficit for 2022 is projected at the level of 3.3% to GDP,» Kazakh National Economy Minister Alibek Kuantyrov said.

«The budget deficit for 2022 is expected to stand at KZT 2,978 billion or 3.3% to the GDP,» the Minister announced representing the macroeconomic and budget targets forecast adjustment for 2022 at the Senate.

According to the National Bank, the exports are forecast to rise up to USD 72.2 billion, while imports are to hit USD 40.2 billion. The inflation is determined within the corridor of 8-10%.

The Minister added that the budget revenues in 2022 are predicted to make KZT 10.2 trillion which is USD 995 billion more as compared to the approved plan. The amount of guaranteed transfer from the National Fund will rise by KZT 1,630 billion up to KZT 4,030 billion. The funds will be channeled for the development of the tasks of the President of Kazakhstan. The budget expenses are projected to reach KZT 18.8 trillion which is KZT 2.7 trillion more than the adjusted plan.

In a conclusion, the Minister said that the macroeconomic indicators and budget characteristics forecast updating for 2022 is purposed first of all to implement the President’s instructions and main provisions of the accepted documents.