ASTANA – Kazakh President Kassym-Jomart Tokayev has signed the law on the national budget for 2026–2028 on Dec. 8. The full text of the law will be published in print.
Kassym-Jomart Tokayev. Photo credit: Akorda
Earlier, members of the Mazhilis agreed with the Senate’s amendments to the law during a plenary session, as well as with changes to the law on the volume of general transfers between the national, regional, and city budgets. The Senate introduced 76 amendments to the draft budget.
The volume of subsidies allocated to regions has been increased by 17.5 billion tenge (US$34.2 million). In addition, 28.5 billion tenge (US$55.8 million) will be directed in 2026 for regional development, covering heat and electricity supply, gas infrastructure, shoreline reinforcement, and other priority areas, reported Kazinform.
Sources of additional financing include the government’s reserve and funds freed from reduced debt service expenditures. Furthermore, 79 billion tenge (US$154.6 million) have been redistributed among state bodies, while 73.4 billion tenge (US$143.6 million) were reallocated within the budget programs of individual ministries.
According to the law on general transfers for 2026–2028, projected revenues of local budgets are set at 10.7 trillion tenge (US$20.9 billion) in 2026, 12.1 trillion tenge (US$23.7 billion) in 2027, and 13.3 trillion tenge (US$26 billion) in 2028. Expenditures for the same period are forecast at 14.9 trillion (US$29 billion), 17.3 trillion (US$33.9 billion) and 18.7 trillion tenge (US$36.6 billion), respectively.
According to the government’s assessment, the dependence of local budgets on transfers from the republican budget is expected to decline from 50.7% to 33%.
Projected revenues of the national budget will reach 19.2 trillion tenge (US$37.6 billion) in 2026, equal to 10.5% of GDP, rising to 23.2 trillion tenge (US$45.4 billion) in 2028, or 20.8% of GDP. The guaranteed transfer from the National Fund is set at 2.77 trillion tenge (US$5.4 billion) annually, within the limits calculated based on the oil price cut-off level.
National budget expenditures are set at 27.7 trillion tenge (US$54.2 billion) in 2026 (15.1% of GDP), 28.8 trillion (US$56.3 billion) in 2027 (14%), and 29.8 trillion (US$58.3 billion) in 2028 (13%). All parameters were established in accordance with budget rules.
