The President amended the Law
05.11.2020
The Head of State signed the Laws of the Republic of Kazakhstan "On amendments to the Law of the Republic of Kazakhstan "On guaranteed transfer from the National Fund of the Republic of Kazakhstan for 2020 – 2022"; "On amendments and additions to the Law of the Republic of Kazakhstan "On Republican budget for 2020-2022 years."
According to the updated forecast, the GDP indicator will be 2.1% by the end of 2020. Nominal GDP is estimated at KZT 69.8 trillion, which is KZT 102 billion higher than the one previously specified. This is due to an increase in the 2019 baseline. Forecast price of oil in the Law increased from $20 to $40 per barrel. The Republican budget revenues (excluding transfers) are estimated at KZT 6 539 billion. Guaranteed transfer from the National Fund remains unchanged and is kept in the amount of KZT 4 770 billion. Expenditures of the Republican budget are projected to amount to KZT 14 475 billion with an increase of KZT 205 billion relative to the approved indicator. Budget deficit remained at 3.5% of GDP, or $4.2 billion. To solve these tasks, the draft budget provides for an additional KZT 238.7 billion.
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