Oil price-$50 per barrel
At a government meeting, the correspondent of the Kapital.kz Business Information Center, Kazakhstan’s Prime Minister Askar Mamin announced the main forecasting parameters of the Republican Party’s budget.
The head of government said: “It is estimated that the real GDP growth in 2021 is 3.1%, that is, the oil price-50 U.S. dollars per barrel, and the national currency exchange rate is 425 tenge per 1 U.S. dollar.”
According to him, the draft Republican budget was formed after taking into account the latest forecasts of socio-economic development. The main expenditure area of the revised 2021 budget is to ensure the implementation of the Nur Otan Party plan and the message sent by the head of state to the people of Kazakhstan on September 1, 2020. In addition, the purpose of these expenses is to raise funds for measures to combat epidemics, modernize the health care system, and stimulate the real economy.
Government members voted to revise the forecast of macroeconomic indicators and budget parameters for 2021.
Askar Mamin instructed: “The Ministry of Finance, together with the Prime Minister’s Office, ensure that a bill concerning the revised Republican budget and socio-economic development forecast is submitted to Congress.”
The government modified the parameters of the republican budget
The Minister of National Economic Assets Irgaliev said that this year’s budget revenue will exceed 7 trillion tenge.