ASTANA, Kazakhstan, August 26. Kazakhstan plans to achieve a zero budget deficit by 2030, said Deputy Prime Minister and Minister of National Economy Serik Zhumangarin at a government meeting, Trend reports.
In line with President Tokayev’s instructions to maintain a
sustainable fiscal outlook, the government, at the meeting,
examined the country’s development forecast for the 2026 - 2035
period.
According to Zhumangarin, three development scenarios have been
considered in Kazakhstan: baseline, moderate, and alternative.
Under the baseline scenario, the average annual GDP growth over 10
years will be 4.5 percent, which will increase nominal GDP to 473.2
trillion tenge (approx. $899.08 billion) by 2035.
By 2035, state budget revenues are expected to reach 66.8 trillion
tenge (about $127 billion). Meanwhile, starting in 2029, the
guaranteed transfer from the National Fund will be gradually
reduced to 2 trillion tenge (approximately $3.8 billion) to cut
dependence on the raw materials sector
“State budget revenues will increase to 66.8 trillion tenge ($127.0
billion) by 2035. The guaranteed transfer is planned to be reduced
to 2 trillion tenge ($3.8 billion) from 2029. The budget deficit is
expected to gradually decrease to 0.4 percent of GDP by 2029 and
reach zero starting in 2030,” the Deputy Prime Minister
emphasized.
Today, the Government of Kazakhstan is holding a meeting focused on the forecast for Kazakhstan’s socio-economic development for 2026 - 2028, as well as preparations for the upcoming heating season.
