We are pleased to announce the first issue of the Fiscal Policy and Socio-Economic Development Review of Kazakhstan. This analytical material, being a part of regular publications of AERC, will provide analysis of the real sector of the economy with a focus on fiscal policy.
The current review highlights the moderate development of the real economy sector and the accurate planning of tax revenues for January 2025. However, due to the transfer of only 550 billion tenge from the National Fund to the republican budget, instead of the planned 1,050 billion tenge, the execution of the state budget in January was weak.
Given the low taxes from oil sector companies, the National Fund's assets are declining. At the same time, with the approaching completion of the Future Growth Project at Tengiz field and increasing oil production, there is a contradiction with Kazakhstan's OPEC+ agreements.
For more details, read the Fiscal Policy and Socio-Economic Development Review.
