Over the years of independence, Kazakhstan was able to turn the national treasury into one of the most innovative and open state bodies in the region. The formation of this system began in 1994, when a single centralized structure was created by presidential decree. Today it is not only a pillar of national financial stability, but also the subject of interest of the world professional community.
Digitalization as a path to international recognition
The key advantage of the Kazakh treasury was the introduction of digital technologies, which made it possible to bring public finance management to a new level. In 2001, in collaboration with Oracle and Hewlett-Packard, an automated budget process management system was implemented. This experience turned out to be unique in international practice: for the first time, solutions previously used only in the corporate sector were adapted for public administration.
Already in 2005, Kazakhstan received the prestigious international award "The Computer World Honors" for the creation of an integrated treasury information system (IISK). Experts from the International Monetary Fund, the World Bank, as well as experts from a number of countries noted that Kazakhstan has set a new bar in the digitalization of the budget process.
International communities and experience sharing
Kazakhstan is actively integrating into international platforms where the best practices of public finance management are discussed. Since 2006, the Treasury Committee has been part of PEMPAL (Public Expenditure Management and Peer Assisted Learning), a treasury community uniting the countries of Central Asia, Eastern Europe and the Balkans, which operates with the support of the World Bank. Kazakhstan plays a key role in it: representatives of our country are members of the Executive Committee of the organization.
The topics of discussion cover the most relevant areas - from liquidity and public debt management to the implementation of modern IT solutions and strengthening internal control. Thanks to participation in PEMPAL, Kazakhstan not only adopts the experience of colleagues, but also actively shares its own digitalization practices.
Since 2018, Kazakhstan has been participating in the Asian network PEMNA (Public Expenditure Management Network in Asia), where experience is exchanged with 14 countries in the region. Particular attention is paid to South Korea and its dBrain system - recognized as one of the most advanced in the world. For Kazakhstan, this is not only an opportunity to learn from experience, but also a chance to consolidate its own status as an innovator in the field of public finance management.
Bilateral: Europe to Asia
In addition to participating in international communities, Kazakhstan is actively developing bilateral relations. Memorandums were signed with the treasuries of Russia, Hungary, Belarus, Ukraine and Serbia. These arrangements allow for joint workshops, knowledge sharing and the introduction of new approaches to budget maintenance.
Kazakhstan as a platform for international meetings
The high confidence of the world community was confirmed by the holding of a plenary meeting of the PEMPAL treasury community in Almaty in May 2023. The event was attended by representatives of 15 countries and guests from five PEMNA member states. The main focus was on issues of international cooperation, digitalization and risk management.
This event was an important signal: Kazakhstan is seen as a reliable partner and a platform for discussing global challenges in the field of financial management.
In conclusion, it should be noted that the State Treasury Committee is a part of the international professional community that actively influences the development of financial management in the region and in the world. Transparency, digitalization and willingness to share experience have made Kazakhstan an excellent platform for international cooperation in public finance management.