ASTANA, Kazakhstan, February 10. President Kassym-Jomart Tokayev stressed the need for increased attention to the quality of budget planning in Kazakhstan's regions at a Government meeting, Trend reports via the press service of the Kazakh President.
The president remarked, "In recent years, there has been a substantial expansion of the revenue base for regions, particularly through the transfer of specific taxes and payments from the national level to local authorities. However, this has resulted in numerous instances where additional expenditures have been placed on local budgets without the necessary financial support. Such practices have disrupted the intended logic of inter-budgetary relations and eroded trust in the decisions made."
He further emphasized the importance of achieving a rational balance between the financial resources transferred and the increasing responsibilities of local executive bodies.
"The revised Budget Code has redefined inter-budgetary relations with an emphasis on predictability and accountability across all levels of budgeting. It is now essential to closely monitor how these provisions are functioning in the regions. If the current mechanisms are found to be ineffective, timely adjustments must be made," the president stated.
Tokayev also noted that the Government must take measures to strengthen the financial stability of the regions.
"This is a strategic task. We cannot allow the responsibility to be diluted across different levels of government," he added.