NUR-SULTAN / ex ASTANA (Satrapia) — The fiscal revenues of Kazakhstan in 2021 will be 2.1 times less than the planned expenditures, the Minister of National Economy (MNE) of the country Aset Irgaliyev said.

The budget deficit is projected at 3.5% of GDP, specified Irgaliyev at the Senate plenary session on Thursday. “State budget revenues excluding transfers in 2021 are estimated at 7.204 tln tenge, which is 279 bln tenge higher than the approved plan […] Sate budget expenditures are projected at 15.334 tln tenge”, Irgaliyev stated.

Thus, the projected current revenues will provide less than half of the expenditures and their amount will be 2.1 times less than the planned expenditures.

According to the minister, the earmarked transfer from the National Fund has been increased from 1 tln tenge to 1.85 tln tenges, grants transfer is unchanged and kept at 2.7 tln. The earmarked transfer from the National Fund is thus almost doubled.