MF RK announced execution of revenues and expenditures of republican budget for 2017

Minister of Finance of the Republic of Kazakhstan, Bakhyt Sultanov, told at the Government meeting how the revenue and expenditure parts of the republican budget for 2017 were executed.
Astana city 11 January, 12:26

"The revenues of the state budget were executed by 102.2%, 7 trillion 153 billion tenge was collected. The increase compared to last year was 10.9%. The republican budget received income in the amount of 5 trillion 012 billion tenge, or 101.2% of the plan. The amount of overfulfilment was 59 billion tenge. Own revenues of local budgets were fulfilled by 104.6%, or with overfulfillment of 95 billion tenge", the Minister said.

According to him, the amount of overfulfillment for the revenues of the republican budget was formed due to tax revenues. The main factors that influenced the overfulfilment of the plan were an increase in the volume of imports and an increase in the prices of metals.

"Tax and customs administration procedures are improving. The emphasis in administration is aimed at the voluntary fulfillment by the taxpayer of tax legislation. For example, in 2017, taxpayers accrued by notifications 171.3 billion tenge, which is 19% more than in 2016. The level of penalties has increased. In 2017, 123 billion tenge was collected by notifications, or 34% more than in 2016", Bakhyt Sultanov said.

He mentioned that from October 1, 2017, the subsystem "Customs transit" "ASTANA-1" IS was launched, which allowed to reduce by almost 4 times the average time for customs clearance.

As for expenses, in 2017 their fulfillment was a record high - 99.8% or 11 trillion 156 billion tenge. The growth of expenses in comparison with 2016 was 8%.

"High fulfillment was influenced by online monitoring of budgetary funds during the year and held selector meetings. Non-fulfillment amounted to 21.1 billion tenge or 0.2% of total expenses. Of these, savings - 2.3 billion tenge, 3.4 billion tenge - undistributed reserve. According to the Budget Code, these expenses are not considered unspent. Therefore, it can be argued that net development amounted to 99.9%", the Head of the Ministry of Finance of the Republic of Kazakhstan said.

It should be recalled that at the meeting of the Government Minister of National Economy, Timur Suleimenov, informed that according to the preliminary results of 2017 the GDP growth was 4%. Economic growth was balanced in almost all segments of economic activity.

Akbota Kuzekbay

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