At a joint meeting of the chambers of Parliament, the Minister of Finance of the Republic of Kazakhstan, Madi Takiev, made a report on the implementation of the republican budget for 2024, noting the key economic results and financial indicators achieved during the reporting period.

According to the report, in 2024, the country's GDP grew by 4.8%, mainly due to the non-oil sector, and in the first five months of this year, growth was already 6%. At the same time, the share of non-oil revenues in the consolidated budget structure increased by 2.5 percentage points, inflation decreased from 9.8% to 8.6%, and the budget deficit amounted to 2.7% of GDP. The assets of the National Fund increased by 16% and amounted to 66.2 billion US dollars. Under the National Fund for Children program, over 7 million children have received charges of $233 per child in two years.

The annual revenue plan of the republican budget has been fulfilled by 97.2% (19.6 trillion tenge). The main reasons for the shortage are a decrease in imports, postponement of the launch of major projects, and a threefold increase in VAT refunds. Nevertheless, gross VAT receipts increased by 4.8%, and due to the fight against the shadow economy, the budget received an additional 1.28 trillion tenge (+37% by 2023).

Budget expenditures were executed by 97.8% and amounted to 23.6 trillion tenge. Substantial funds are allocated to the social sphere and infrastructure. 93.8 billion tenge was allocated to raise salaries for teachers, 4,557 families were provided with housing, 789 kindergartens were opened, and 100% of children from vulnerable categories were provided with free meals. 19 million m2 of housing was commissioned, more than 300 thousand people were gasified, 3.5 thousand km of water supply networks, 542 km of heating networks were modernized and new generation facilities with a capacity of more than 700 MW were built.

751 billion tenge was allocated for national projects, which made it possible to build 105 schools (254 thousand places), eliminate the problem of emergency and three-shift schools, and complete the construction of 460 healthcare facilities. Additionally, in 2025, it is planned to introduce 195 medical institutions and modernize 32 multidisciplinary district hospitals.

Repairs of 1.5 thousand km of the main railway network were also completed. The volume of traffic along the Trans-Caspian International Transport Route (TM) increased by 62% in 2024, to 4.5 million tons. At the same time, transit increased 4 times, and transit from China increased 28 times. Three new terminals have been commissioned at the airports of Almaty, Kyzylorda and Shymkent.

The minister also reported on the efficiency of using budget funds: the amount of inefficient expenditures in 2024 decreased by 24% and amounted to 372 billion tenge. Last year, the Government prioritized support for domestic producers. Within the framework of regulated purchases, long-term and offtake contracts have been concluded with domestic enterprises in the amount of over 1 trillion tenge. This indicator has increased 2.5 times.

"All the key decisions taken in 2024 were aimed at improving the quality of life of Kazakhstanis: from providing housing to modernizing schools and hospitals," said Madi Takiev, Minister of Finance of the Republic of Kazakhstan.

Source : https://www.gov.kz/memleket/entities/minfin/press/news/details/1025631?lang=kk