Kazakhstan to Allocate over 5 Trillion Tenge for Social Areas

Kazakhstan will allocate over five trillion tenge for social areas.

The Kazakh Finance Ministry has submitted a draft Law on the Republican Budget for 2020 until 2022.

Starting from next year, compulsory social health insurance will be introduced in Kazakhstan. The expenses in this area will be increased by 217 billion tenge.

Next year, 2.39 trillion tenge are expected to be used for the development of real sector of the economy.

Programs such as Nurly Zhol, Nurly Zher, development of agro-industrial complex as well as the state program of industrial and innovative development and the new Road Map of Business program are being continued.

According to Kazakh Deputy Prime Minister and Finance Minister, Alikhan Smailov, The draft of the republican budget is formed. Revenue is forecasted at 11.2 trillion tenge for 2020.

The share of the non-petroleum revenue is expected to increase from 61.4% to 71.2% by 2022.

The deficit of the budget would be decreased to 1% in GDP in 2020.

Expenses are expected to amount to 12.7 trillion tenge in 2020. The pace of growth of the expenses doesn’t exceed the figures of the GDP growth. 

Photo: sputniknews.kz