The draft republican budget for 2027-2029 was presented to Kuryltai deputies.

The draft national budget for 2027-2029 was presented to Kuryltai deputies. The presentation was chaired by Olga Perepechina, Chair of the Finance and Budget Committee, and attended by Kuryltai Deputy Chair Daniya Espaeva and senior government officials.

In her welcoming remarks, Daniya Espayeva noted that 2027-2029 was declared a period of transition to a more stringent budget policy by reducing the deficit and gradually reducing dependence on oil revenues. This is the newly formed Kuryltai's first budget cycle and one of the most critical legislative processes.

As the Deputy Speaker emphasized, the Kuryltai has been presented with a significant amount of material stipulated by the new Budget Code. This allows deputies to assess not only revenues and expenditures directly, but also, more broadly, the sustainability of the entire public finance system. Particular attention will be paid to the strict and effective implementation of all instructions from the Head of State regarding the country's development, Daniya Espayeva emphasized.

"Our goal is not simply to discuss problems, but to contribute to their solution. The oversight of a professional Kuryltai should be even broader: if we raise an issue, we should also propose possible solutions." We expect the same approach from the Government. If deputies have doubts regarding calculations, the effectiveness of expenditures, or the achievement of established indicators, we expect a substantive response: why the decision was made, what alternatives exist, what result is expected, and who will be held accountable for it," stated the Deputy Chair of the Kuryltai.

In turn, Olga Perepechina, Chair of the Finance and Budget Committee, added that when reviewing the draft national budget, the parliament will insist on strict oversight of the expenditure of funds. The main budget priorities for the next three years are maintaining macroeconomic stability, advancing the construction of infrastructure and social facilities, and fulfilling all the state's social obligations.

Presenting the socioeconomic development forecast, First Vice Minister of National Economy Azamat Amrin stated that it is based on economic growth averaging over 5% per year. The primary sources of growth should not be the oil sector. According to the Deputy Minister of National Economy, the growth rate of the manufacturing industry (average annual growth of 5.9%) will outpace that of the mining industry (2.0%). Agriculture will also be a driver of economic growth (at least 5%).

Deputy Minister of Finance Abzal Beisenbekuly briefed deputies on the main provisions of the draft law "On the Republican Budget for 2027-2029." According to him, revenues for 2027 are projected at 25.4 trillion tenge, 19.9 trillion tenge of which is income excluding transfers. Expenditures will increase to 30.2 trillion tenge. Thus, the deficit will amount to 4.6 trillion tenge, or 2.3% of GDP. By 2029, the budget deficit is projected to decrease to 0.4%, while domestic revenues will increase to 23.4 trillion tenge.

"The first and highest priority in the expenditure structure is investing in people. In 2027, 10.5 trillion tenge, or 35% of the total budget, is allocated for human capital. It's crucial to understand that these figures represent specific people. The social sector budget is focused on people—meaning, it aims to ensure their social security, health, education, and opportunities for development. The bulk of the funds goes to social security and healthcare," explained the Deputy Minister of Finance.

Following the presentation, a discussion of the draft law took place. Deputies raised issues related to the discrepancies between the government's economic growth forecasts and international expert estimates, the planned reduction in the budget deficit, the selection of projects financed by transfers from the National Fund, and their completion of the necessary budgetary procedures. Additionally, attention was paid to the effectiveness of agricultural financing, the expected results of increasing the authorized capital of the Agrarian Credit Corporation, as well as the effectiveness of spending on science, and the implementation and commercialization of scientific research.

"When resources are limited, we have no right to inefficient spending. Budget allocation must be targeted: only the maximum benefit for the economy and citizens, complete transparency, and a rigorous selection of key objectives. I ask all colleagues to be guided by this approach when introducing amendments, and also to keep in mind the need for a balanced budget: if you propose a 'plus,' then you'll need to cut somewhere," concluded Olga Perepechina, head of the relevant committee.

Further work on the draft republican budget in the Kuryltai will be led by Deputy Tatyana Savelyeva. The proposals and opinions expressed by deputies during the discussion will be taken into account.

Following the presentation of the bill, a briefing was held for media representatives. Working group leader Tatyana Savelyeva, Vice Minister of Finance Abzal Beisenbekuly, and First Vice Minister of National Economy Azamat Amrin answered journalists' questions.