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The Mazhilis approved the republican budget for the next three years

Astana, November 1, House of the Mazhilis. Today, deputies of the Mazhilis at a plenary meeting adopted laws on the republican budget and a guaranteed transfer from the National Fund of the Republic of Kazakhstan for 2024-2026. Also, amendments on information security issues were adopted in the second reading.

The plenary session began with a minute of silence in memory of the deceased miners at the mine named after I.A. Kostenko in Karaganda region. In connection with the tragedy, Mazhilis deputy Arman Kalykov voiced a parliamentary request to strengthen state control over compliance with industrial safety. He said that parliamentarians had developed and sent relevant amendments to the Government.

The main issue on the agenda was consideration of the draft laws on the republican budget and on the guaranteed transfer from the National Fund of the Republic of Kazakhstan. The Minister of National Economy Alibek Kuanytrov, Deputy Prime Minister - Minister of Finance Yerulan Zhamaubaev, Chairman of the National Bank Timur Suleimenov, as well as a member of the Mazhilis Committee on Finance and Budget Marhabat Zhaiymbetov informed about their basic norms. The meeting was also attended by Head of the Government Alikhan Smailov and heads of other ministries.

The Minister of National Economy noted that the National Fund’s foreign exchange assets are projected to recover to $68 billion in 2024, with further growth to $80.7-93.3 billion in 2025-2026.

– When forming the parameters of the republican budget and the National Fund for the next three-year period, the main task was to ensure the stability of budget parameters and strengthen the savings function of the National Fund . The stability of budget parameters is ensured by increasing its own tax base and applying budget rules. In general, the instructions of the Head of State and the initiatives of the deputies of Parliament are implemented through measures taken by the Government to replenish the revenue base of both the republican and local budgets, – said Alibek Kuantyrov.

According to the Chairman of the National Bank Timur Suleimenov, inflation will slow down from current values to about 8% by the end of 2024, and in 2025 to about 6% with subsequent maintenance at the level of the target 5%.

Deputy Prime Minister Yerulan Zhamaubaev said that next year it is planned to attract a transfer from the National Fund in the amount of 3.6 trillion tenge, including a targeted transfer in the amount of 1.6 trillion tenge.

Speaking with a co-report, deputy Marhabat Zhaiymbetov noted the great work of Mazhilismen in reviewing the budget. At the suggestion of parliamentarians, about 2.5 trillion tenge was redistributed between ministries and akimats according to their importance.

– Revenues amounted to 16.3 trillion tenge, expenses – about 24 trillion tenge. The trend continues to cover budget expenses through transfers from the National Fund in the amount of 3.6 trillion tenge. The budget deficit is 3.5 trillion tenge. The well-being of the population is directly related to the budget. If we do not finance production and develop the real sector of the economy, we will reach a high level of inflation, which will be difficult to control, – the deputy said.

During the discussion, the leaders of six factions of the Mazhilis also assessed the bill.

Summing up the meeting, the Speaker of the Mazhilis noted that the draft republican budget took into account as much as possible the orders of voters and proposals of deputies.

- Head of State Kassym-Jomart Kemelevich Tokayev in his Message announced a New Economic Policy, the ultimate goal of which is to improve the well-being of Kazakhstanis. In this regard, the republican budget is aimed, first of all, at implementing the tasks set by the President. The main thing is that this document allows us to fully fulfill all the social obligations of the state and is aimed at improving the quality of life of people. Now the main task is its effective implementation. Deputies will constantly monitor the implementation of the approved budget. It is necessary that every budget tenge is spent for its intended purpose, – said Erlan Koshanov.

Based on the results of the consideration, the Mazhilismen adopted both laws and sent them to the Senate.

Also, amendments on information security issues were adopted in the second reading. The bill, developed at the initiative of deputies, was approved in the first reading on September 27. As part of the changes and additions made, citizens will be given the right to voluntarily refuse to receive bank loans and microcredits . The ban can be set in the personal account of «Electronic government». This will avoid third parties from receiving bank loans and microloans.

In addition, the Mazhilis accepted the ratification agreement between the governments of member countries of the Organization of Turkic States on the creation of a simplified customs corridor.


Press service of the Mazhilis 74-66-20. Photo by Zh.Zhumabekova, T.Tanybaeva

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