Kazakhstan projects republican budget revenues to exceed $51bn by 2029

Kazakhstan anticipates its republican budget revenues will surpass $51 billion by 2029.

According to Serik Zhumangarin, the Deputy Prime Minister and Minister of National Economy, the nation's republican budget revenues are forecast to hit KZT 23.4 trillion (exceeding $51.2 billion) by 2029. This projection is based on the government's macroeconomic outlook, which estimates revenues to be KZT 19.9 trillion (over $43.5 billion) in 2027, KZT 21.7 trillion (over $47.5 billion) in 2028, and KZT 23.4 trillion (over $51.2 billion) in 2029.

Zhumangarin stated, "Based on the macroeconomic forecast, republican budget revenues are expected to reach KZT 19.9 trillion (over $43.5 billion) in 2027, KZT 21.7 trillion (over $47.5 billion) in 2028, and KZT 23.4 trillion (over $51.2 billion) in 2029."

The guaranteed transfer from Kazakhstan's National Fund is set at KZT 2.43 trillion (over $5.3 billion) for both 2027 and 2028. For 2029, this guaranteed transfer is slated to decrease to KZT 2 trillion (over $4.3 billion).

Targeted transfers from the National Fund are planned at KZT 2 trillion in 2027, followed by KZT 1.5 trillion annually in 2028 and 2029. These funds, as reported, will be directed towards essential infrastructure and projects deemed nationally significant.

Kazakhstan's budget deficit is projected to be 2.3% of GDP in 2027 and 0.4% in 2029. The non-oil deficit is expected to decrease from 5.3% of GDP in 2027 to 2.5% in 2029. Republican budget expenditures are forecast at KZT 30.2 trillion (over $66.1 billion) in 2027, KZT 29.4 trillion (over $64.3 billion) in 2028, and KZT 29.6 trillion (over $64.7 billion) in 2029.

In a separate development, Kazakhstan's state budget revenues surpassed KZT 13 trillion (over $28.4 billion) during the first half of 2026, marking an increase of nearly 16% compared to the same period in the previous year.