The draft national budget for the next three years has been presented at the Kurultai. Revenues are expected to reach 25.5 trillion tenge. The largest spending item is investment in human capital, with more than 10.5 trillion tenge allocated. Another 7.5 trillion tenge is earmarked for the regions. These funds will be used to build roads, schools and hospitals, as well as for utility infrastructure and gasification.
«Every year, a quarter of revenues, or 7.4trillion tenge, equivalent to 24.8%, will be allocated to the regions. All these funds are primarily intended forthe people. They will go toward providing water and heating to homes, goodroads, schools and hospitals, gasification, and utility infrastructure. Ourtask is to create conditions for a comfortable life for the population,» noted Abzal Beisenbekuly, Vice Minister of Finance of the Republic of Kazakhstan.
Economic growth is expected to reach 5% in 2027. At thesame time, it is set to be driven by more than just oil production.Manufacturing is projected to play the leading role. According to First DeputyMinister of National Economy Azamat Amrin, the sector has already been growingfaster than the extractive industry for the second consecutive year.
«Previously, it was the extractive, or rawmaterials, sector. Now, it is the non-resource sector.The share of the mining industry has declined from 16% to 8%. In other words,its share has been cut in half, while manufacturing has increased,» said Azamat Amrin,First Deputy Minister of National Economyof the Republic of Kazakhstan.
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