(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 12. Kazakhstan's new
fiscal policy will enable the government to increase the assets of
the National Fund of Kazakhstan to $100 billion, Alikhan Smailov,
Prime Minister of Kazakhstan, said, trend reports, citing the press service of the
PM.
Smailov said that the measures taken by the Government will help
stabilize the growth rate of budget expenditures in the coming
years.
The prime minister added that implementation of the new Concept
of Public Finance Management until 2030, which is a part of the
pre-election program of the President of the Republic of
Kazakhstan, has been launched.
'Countercyclical budget rules have been approved, which will
allow reduction transfers from the National Fund by 1.4 trillion
Kazakh tenge ($2.9 billion) in 2023 and stabilize the growth rate
of budget expenditures,' he said.
He also mentioned that implementation of the action plan to
combat the shadow economy continues.
As a result of the steps taken, from January through November
2022 additional revenue of 900 billion Kazakh tenge ($1.9 billion)
has been generated by the budget, he said.
Smailov also stated that the Government is looking to reduce the
non-oil deficit to 5 percent by 2030 by implementing the new fiscal
policy.
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