Kazakhstan's 2023 Budget Expenditures Surge: A Financial Landscape Overview

13.02.2024

In the period of January-November, 2023, Kazakhstan experienced a notable 24.5% increase in state budget expenditures compared to the same period in 2022, reaching 24.2 trillion tenge. Non-refundable expenditures, constituting 95.1% of the total state budget outlays, surged by 24.4%, totaling 23.1 trillion tenge during the 11-month period of 2023.

The expenditure structure remained relatively unchanged, with nearly half of the outlays allocated to education, social assistance, and social security. 

Budgetary credits, contributing 2.9% to expenditures, decreased by 1.2% compared to the first 11 months of 2022, amounting to 703.7 billion tenge from January to November 2023.

The acquisition of financial assets, involving budget funds directed towards obtaining ownership stakes and securities of legal entities, including internationa.organizations, accounted for 2.0% of all state budget expenditures during the first 11 months of 2023. As of December 1, 2023, financial asset acquisition reached 473.0 billion tenge, marking a 2.1-fold increase compared to December 1, 2022, contributing to an augmented share in Kazakhstan's state budget revenue.

Surprisingly, debt repayments (budget funds allocated for servicing the principal debt on internal and external loans) remained at zero for the January to November 2023 period.
 
Kazakhstan's budgetary landscape showcases a significant surge in expenditures, emphasizing strategic allocations in key sectors for the nation's socio-economic development.


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Saved: 24.04.2024






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