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Economy and daily life
18 stories about Kazakhstan: budget, taxes and debt, newest first. This page updates by itself with every new story.
Kazakhstan's Ministry of National Economy said the additional excise share on petrol and diesel fuel is planned to be reduced from 95% to 50% starting January 1, 2027. The ministry stressed that this would not automatically lower prices at fuel stations.
Kurultai deputy Olga Perepechina said raising Kazakhstan's value added tax (VAT) from 12% to 16% has not brought the additional budget revenue the government expected. The government revises the base parameters of socio-economic forecasts every year, and none of the key 2027 indicators has held at its original level.
The Kazakh government plans to end social benefits for wealthy citizens, a move expected to save 700 billion tenge in 2027 and almost 2.5 trillion tenge over three years. Prime Minister Olzhas Bektenov said that shifting to needs-based payments would end the unfairness of wealthy and low-income families receiving the same support. The Ministry of Labour said about 1.38 million households, or 21% of recipients, will lose benefits, including those with incomes above 305,000 tenge per person per month who own large or medium businesses, several properties or premium cars.
Kazakhstan's Kurultai is set to consider the draft republican budget for 2027–2029 today. According to 24KZ, the budget covers the next three years, while deputies will also review amendments to the law on state awards.
Kazakhstan expects to receive nearly 3.78 trillion tenge (US$7.9 billion) from oil-sector organizations for its National Fund in 2027, according to a draft national budget for 2027-2029. Deputies of the Kurultai approved the draft in the first reading on Oct. 14.
Kazakhstan plans to change its approach to social assistance from next year. Deputies of the Kurultai discussed the new principles while approving the draft republican budget for the next three years in first reading. Under the changes, state support will go only to those who truly need it. The government says the decision will free up hundreds of billions of tenge for other priority tasks.
Kazakhstan Prime Minister Olzhas Bektenov told the Kurultai that the government is holding its course toward strengthening public finances and reducing budget dependence on borrowing and transfers. He was answering deputy Natalya Godunova's question on the 2027 republican budget deficit.
Kazakhstan's government expects to save 700 billion tenge in 2027 and nearly 2.5 trillion tenge over three years by cancelling benefits and payments to wealthy citizens. Prime Minister Olzhas Bektenov announced the figures on Wednesday during a Kurultai session reviewing the 2027–2029 draft budget in its first reading.
On October 14, Prime Minister Olzhas Bektenov said the government is readying a social security reform that will eliminate a number of benefits for “well-off” citizens. Speaking at the Kurultai, Kazakhstan’s parliament, he said the measures will save 700 billion tenge ($1.6 billion) in 2027 alone.
Kazakhstan's Minister of National Economy Serik Zhumangarin said at a briefing in the Kurultai that the country's minimum wage (MZP) could be raised. The remarks were reported by a NUR.KZ correspondent.
Kazakhstan has allocated 3.3 trillion tenge from its 2027 budget for the security bloc. Finance Minister Madi Takiyev and Deputy Prime Minister and Minister of National Economy Serik Zhumangarin explained how the funds will be spent and why such spending does not undermine financing for the real sector.
Pensions and social payments in Kazakhstan will be indexed starting next year. This was announced at a briefing in the Kurultai by Deputy Prime Minister and Minister of National Economy Serik Zhumangarin. The report is based on information from Tengrinews.kz correspondents.
Economy
Kazakhstan's economy grew 4.2% in January–September 2026, according to figures reviewed at a government meeting. Other indicators of the country's socio-economic development were also considered at the session.
From 1 January 2027, second-tier banks in Kazakhstan will begin transferring information to the Ministry of Labour and Social Protection of the Population needed to assess the wellbeing of families applying for state aid. Labour Minister Askarbek Yertayev announced this at a session of the kurultai. The report was filed by a correspondent of the Kapital.kz business information centre.
Deputies of Kazakhstan's Kurultai approved in first reading a draft republican budget for three years. According to Egemen.kz, the document aims to maintain macroeconomic stability, fulfil all social obligations and accelerate infrastructure development, as set out by the Head of State.
Kazakhstan's public debt has reached 38.5 trillion tenge, or 20.9% of GDP, Finance Minister Madi Takiyev said at a session of the Kurultai, where lawmakers were discussing the draft budget for 2027–2029. External debt accounts for 8.4 trillion tenge, or 4.5% of GDP.
Deputies of Kazakhstan's Kurultai approved in first reading a bill “On the Republican Budget for 2027-2029”, NUR.KZ reported, citing the parliament's press service. The Kurultai's Telegram channel said the document includes priorities such as preserving macroeconomic stability, fulfilling all social obligations and accelerating infrastructure development.
Kazakhstan's draft republican budget for 2027-2029 was considered in its first reading at the Kurultai during a plenary session on Wednesday. Deputy Olga Perepechina said the document was formed with a minimal margin of financial stability, and that any macroeconomic instability could require additional borrowing or withdrawals from the National Fund.
Turkey's rate cut, Azerbaijan's net-zero strategy, Armenia-Azerbaijan peace treaty timing and Kashagan arbitration ruling in today's Turkic news.
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