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Majilis approves 2019-2021 budget

9 October 2019 13:55

NUR-SULTAN. KAZINFORM Majilis has ratified the draft law «On amendments to the Law of the Republic of Kazakhstan «On 2019-2021 National Budget,» Kazinform correspondent reports.

According to First Deputy Prime Minister – Minister of Finance Alikhan Smailov, the document was compiled based on the country’s socio-economic forecast for 2019.

«Budget revenues were increased by 94.9bn tenge, and budget expenditures were raised by 94.9bn tenge,» Alikhan Smailov said presenting the bill.

Budget deficit remains at the earlier approved level – 2.1% against GDP. Social spending was increased by 6.7bn tenge, he added.

Taking into account the redistribution of costs, additional funds were allocated for the payment of targeted social assistance, healthcare services and health facilities construction.

Real sector expenses were augmented by 15.6bn tenge.

Additional expenses on support of industry and mortgage lending to the depositors of the Housing Construction Savings Bank are envisaged.

Keywords: Majilis, Economy,