Kazakhstan H1 2026 tax revenue up 15.2%, debt service equals 11% of spending
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Kazakhstan's consolidated tax revenue rose 15.2% to 14.4 trillion tenge in H1 2026, while combined spending rose 8.6% to 19.0 trillion tenge. Debt service costs in the republican budget rose 26.2% and now account for about 11% of all treasury spending.
Key Facts
- Kazakhstan's consolidated tax revenue rose 15.2% year-on-year to 14.4 trillion tenge in H1 2026.
- The republican budget delivered the entire absolute revenue increase of 1.9 trillion tenge, rising 29.8%.
- VAT, corporate income tax and non-oil mineral extraction tax together provided almost 95% of the republican budget tax increase.
- Debt service spending in the republican budget rose 26.2% to 433 billion tenge and now equals about 11% of all treasury spending.
- Total state and local spending grew 8.6% to 19.0 trillion tenge in H1 2026, down from 13.3% a year earlier.
Revenue Growth
Consolidated tax revenue accelerated to 15.2% growth in H1 2026, reaching 14.4 trillion tenge, up from 11.2% a year earlier. The republican budget delivered the entire absolute increase of 1.9 trillion tenge, or 29.8%, while National Fund revenue edged down 1.0% and local budgets fell 0.3%. VAT contributed 1.2 trillion tenge, or 43.1%, to the increase, reflecting the combined effect of a higher rate, a broader base and stronger administration. Corporate income tax added 328 billion tenge, up 16.1%, as tax payment lags and improved collection lifted receipts. Non-oil mineral extraction tax rose 59.9% to 320 billion tenge, helped by favourable metals prices.
Spending Pressures
Combined national and local spending grew 8.6% to 19.0 trillion tenge in H1 2026, down from 13.3% growth a year earlier. Republican budget spending increased 5.1% and local budgets grew 6.7%, both slower than the prior year. Debt service in the republican budget rose 26.2% to 433 billion tenge and now equals about 11% of all treasury spending. Social assistance and welfare rose 12.9% to 387 billion tenge, while defence spending rose 73.6% to 307 billion tenge. Local budget loan repayments rose 188.2% to 172 billion tenge, with transfers up 46.0% and housing and utilities spending up 16.4%.
Regional Budgets and National Fund
Local budget corporate income tax fell 9.9% and property tax fell 5.2%, while excise revenue rose 29.9%. The jump in excise duties largely compensated for the weaker expansion of the regions' own tax base. National Fund oil-sector corporate income tax grew 60.8%, while mineral extraction tax fell 47.9% and production-sharing receipts fell 8.7%. Oil production fell 8.4% year-on-year in the first half, and higher crude prices only partially offset the weaker oil and gas sector performance.
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Kazakhstan H1 2026 tax revenue up 15.2%, debt service equals 11% of spending
