Budget execution rate was high on all levels of budget – Kazakh Finance Minister
Today’s Government session chaired by Kazakh Prime Minister Askar Mamin has touched upon the budget execution for January – September of 2019, where Kazakh Finance Minister Alikhan Smailov said that the State budget, national budget and local budget funds rose by 15%, 19% and 7% during 9 months of 2019, Strategy2050.kz correspondent reports.
He went to say that the National Fund’s assets stood at 26 trillion 447 billion tenge, increasing by 15% over 9 months of 2018.
According to Smailov, the budget execution rate was high on all levels of budget.
“The State budget was utilized up to 99.6%, the national budget – 99.8%, local budgets - 99.3%. Reporting periods’ indicators demonstrate the possibility to conclude this financial year at the highest level”, he said.
The national budget received 4 trillion 817 billion tenge worth revenues, including an additional 61 billion tenge, with the growth rate of 118.5%, or 751 billion tenge compared to 1 October 2018. Of which 738 billion tenge fell on taxes. The growth underpinned largely by VAT (421 billion tenge), corporate income tax (184 billion tenge), taxes on international trade and external transactions (125 billion tenge).
Thanks to the digitalization of administration procedures, the State budget received 280 billion tenge.
“The local budgets’ own revenues totalled at 1 trillion 845 billion tenge, increasing by 119 billion tenge over the same period of last year mainly due to taxes. State budget spending was 8 trillion 541 billion tenge, or 99.8%, with 14.3 billion tenge remained unutilized, including savings of 5.7 billion tenge, and unutilized funds of 8.6 billion tenge, which is less by 5 times compared to 9 months of the previous year”, the Finance Minister said.
The Ministries of Ecology, Geology and Natural Resources, Culture and Sport, and others fell short in implementing State budget funds.
According to the Finance Minister, the reasons for that include long competition procedures, untimely work completion statements, treaties and additional agreements.
Over 2500 audits on 593 billion tenge were conducted within the reporting period, resulting in financial irregularities amounted to 174 billion tenge. As a result of the inquiry, public procurement irregularities amounted to 547 billion tenge were removed.
Adlet Seilkhanov
