Strategic Reallocations: Navigating Through the 2023 Capital Asset Sales Revenue
In 2023 the revenues generated from the sale of capital assets accounted for 0.7% of the total income portion of the state budget showing a decrement from 1.2% in 2022. These revenues experienced a 24.1% reduction amounting to 1,821 billion tenge in 2023 down from 2,400 billion tenge the previous year. This decline was notably driven by a significant decrease in sales from the state material reserve, which dropped approximately 95-fold.
Diving deeper into the 2023 revenue structure from capital asset sales:
- The sale of state property assigned to government institutions dominated the revenue share, reaching 80.2% (down slightly from 83.4% in 2022).
- Land sales and intangible assets transactions represented nearly one-fifth, marking 19.4% (up from 13.7% in 2022).
- The smallest share came from sales out of the state material reserve, at merely 0.4% (a sharp fall from 2.9% in 2022).
Local budget incomes from capital asset sales in 2023 represented 1.3% (compared to 2.1% in 2022), decreasing by 22.2% to 1,814 billion tenge in 2023 from 2,330 billion tenge in 2022.
Almaty city garnered the highest revenue from capital asset sales at 1.36%, followed by Shymkent at 1.34% and the Turkestan region at 1.08%, with the Ulytau region receiving the least, at just 0.05%.
These dynamics provide insights into the strategic financial maneuvers within Kazakhstan's budgetary framework for 2023, reflecting cautious optimization in the face of fluctuating economic conditions.
