Government • 15 June, 2018

Parliament receives report of the Government of Kazakhstan on execution of republican budget for 2017

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Joint session of the chambers of the Parliament of the Republic of Kazakhstan was held June 15 in Astana, during which the report of the Government of Kazakhstan on the execution of the republican budget for 2017 was heard and adopted, reports

The report on the execution of the republican budget for 2017 was presented by the Minister of Finance Bakhyt Sultanov.

"The main objectives of the implementation of the republican budget for 2017 – to preserve the positive dynamics of economic growth and social welfare and create conditions for post-crisis development. The economy grew by 4%. Steady GDP growth, with the exception of external factors, contributed to the growth of industry by 7.1% and the services sector by 2.7%. The budget revenues reached 9.7 trillion tenge. Of these, 48% account for transfers," Sultanov said.

The minister of finance noted that the new Tax Code adopted last year is aimed at sustainable business development, promotion of investment and the country's competitiveness by improving tax administration. By implementing these changes this year, it is planned to increase tax collection through non-interference in business activities and digitalization of business processes. Their volume this year will reach 17% of the gross domestic product. In the future, until 2025, measures will be taken to increase this figure to 25%.

Also Bakhyt Sultanov reported on the expenditure side of the budget.

"They are executed on 99,8% or 11,156 trillion tenge. All social obligations have been fulfilled. In the reporting year, 5.86 million people received pensions and benefits from the budget. For this, 1.9 trillion tenge was spent. Support for motherhood and childhood is one of the key areas of social policy. Funds for the childbirth allowance were 35.2 billion tenge, which was paid to 392.7 thousand people. Nearly 539,600 children from low-income families under the age of 18 have been provided with benefits," the minister of finance said.

According to the Ministry of Finance, the national debt in relation to GDP was 26%. According to the latest report of the World Economic Forum, Kazakhstan ranks 11th out of 137 countries on the State Debt indicator, having improved the rating by 6 positions in comparison with the previous year.

Then the chairman of the Accounts Committee for Control over the Execution of the Republican Budget, Natalia Godunova, presented the conclusion to the report of the Government and voiced proposals on increasing the efficiency of the use of state resources and the implementation of program documents.

During the meeting the deputies addressed a number of questions to Prime Minister Bakytzhan Sagintayev, Deputy Prime Minister – Minister of Agriculture Umirzak Shukeyev, Minister of National Economy Timur Suleimenov.

Deputy of the Mazhilis of the Parliament Mikhail Chirkov asked a question on the improvement of the efficiency of budgetary funds development.

The Prime Minister, in turn, noted that this issue is key in the report of the Government. Bakytzhan Sagintayev pointed out that the effectiveness of spending budget funds is the priority of the work of the Government. In addition, the importance of the recently adopted law on state audit was noted.

"We work with the Accounts Committee. Within the Parliament, in previous years there were very hot debates on the question of how much we understand the effectiveness of spending budget funds. In the course of disputes, we came to the conclusion that it is necessary to introduce the concept of the principle of efficiency, audit of spending budgets. Thus, the Law on State Administration was adopted, and a lot of work is being done in this direction," Bakytzhan Sagintayev answered the question.

At the same time, the Prime Minister stressed that within the framework of the adopted Law on State Audit, work is underway to upgrade the qualifications of accountants, certification of auditors is being conducted. This work has already begun.

In conclusion, Bakytzhan Sagintayev thanked the deputy corps for the support and prompt adoption of the necessary legislative changes to ensure the implementation of the tasks set by the Head of State.

"The questions raised by you today, the comments made are very serious. And your opinions and proposals are important for us, we will certainly consider them in the Government and take into account in our work in the future," Bakytzhan Sagintayev noted.

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