Kazakhstan has improved its performance in 17 out of 31 areas under the international PEFA (Public Expenditure and Financial Accountability) framework, a globally recognized standard for assessing public financial management. The results were presented at a roundtable marking the launch of the Public Expenditure and Financial Accountability (PEFA) Assessment report. The event was attended by the Minister of Finance of the Republic of Kazakhstan, Madi Takiyev; Najy Benhassine, World Bank Division Director for Central Asia; and Utsav Kumar, Asian Development Bank (ADB) Country Director for Kazakhstan.

The Government of the Republic of Kazakhstan, with the support of the World Bank and ADB, has completed the Public Expenditure and Financial Accountability (PEFA) assessment. The assessment provides an objective evaluation of the budget process, transparency, accountability, and the efficiency of public resource use in line with international standards.

Compared with the previous assessment conducted in 2018, Kazakhstan has made notable progress. The share of indicators with the highest rating (‘A’) increased from 16% to 39%, while 94% of indicators received a rating of ‘C’ or higher, which represents the baseline level.

“Kazakhstan’s progress since 2018 demonstrates responsible public financial management,” said Najy Benhassine, World Bank Division Director for Central Asia. “The next phase of reforms will involve using the results of this assessment, including its climate dimension, to update the country’s public financial management strategy, further improving the efficiency of public spending and its benefits for citizens.”

The evaluation covered key components of the public finance system, including budget planning and execution, revenue and expenditure management, public procurement, internal and external audit, as well as fiscal transparency and reporting.

Among the system’s strengths highlighted in the report are stronger fiscal discipline, effective budget execution, and transparent revenue management. The assessment also placed special emphasis on the strategic allocation of resources. International experts noted improved alignment between medium-term budgeting and strategic plans, as well as the enhanced role of key performance indicators (KPIs) in resource allocation. An internal control and audit system aligned with international standards now covers nearly all government expenditures, ensuring compliance with financial regulations.

“The assessment demonstrates Kazakhstan’s continued progress in improving the transparency and accountability of its public financial management system, while also identifying areas for further improvement, including competitive procurement, debt management, and access to information. Stronger public financial management strengthens the nation—where transparency empowers citizens, accountability builds public trust, and development progress becomes more resilient and impactful,” said Ruth Farrant, Director, ADB Procurement, Portfolio and Financial Management Department. 

A milestone achievement was the country’s first PEFA assessment incorporating a climate component (PEFA+Climate), reaffirming Kazakhstan’s commitment to the goals of the Carbon Neutrality Strategy until 2060 and its international climate obligations. This work was coordinated by the Ministry of Ecology and Natural Resources.

“Kazakhstan will continue to pursue macroeconomic stability and effective public financial management despite global uncertainty. Our priorities include further strengthening transparency, improving credit ratings, boosting investor confidence, and attracting long-term investment to support economic growth. These reforms will contribute to citizens’ well-being and the country’s sustainable development,” said Minister of Finance Madi Takiyev.

The international PEFA assessment serves as an independent tool for analyzing strengths and identifying areas for improvement in public finances. Its findings provide a solid foundation for further reforms.

Source : https://www.gov.kz/memleket/entities/minfin/press/news/details/1151886?lang=kk