Kazakhstan's 2027 budget plan sets spending at 30.2 trillion tenge

September 3, 2026 at 08:56 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Kazakhstan's draft 2027-2029 budget sets 2027 state spending at 30.2 trillion tenge, 2.47 trillion above the 2026 plan. Spending then declines to 29.44 trillion tenge in 2028 and 29.56 trillion in 2029. Debt servicing will absorb 3.56 trillion tenge in 2027, nearly 12% of the republican budget.

Key Facts

The 2027 republican budget draft sets state spending at 30.2 trillion tenge, 2.47 trillion tenge above the 2026 plan.
Debt servicing will cost 3.56 trillion tenge in 2027, 3.68 trillion in 2028, and 3.65 trillion in 2029, totaling nearly 10.9 trillion tenge over three years.
The 2027 budget deficit is projected at 4.56 trillion tenge, narrowing to 2.15 trillion in 2028 and 1 trillion in 2029.
Transfers to other levels of government will rise from 5.56 trillion tenge in 2026 to 7.34 trillion in 2027, an increase of nearly 1.78 trillion tenge.

Spending Peak and Decline

The draft republican budget for 2027–2029 shows spending rising sharply to a peak of 30.2 trillion tenge in 2027, then falling to 29.44 trillion tenge in 2028 and 29.56 trillion in 2029. The 2027 figure is 2.47 trillion tenge above the 2026 plan. The government projects inflation to slow to 7.5–9.5% in 2027 and 6–8% in 2028–2029.

Debt Servicing Burden

Debt servicing will absorb 3.56 trillion tenge in 2027, 3.68 trillion in 2028, and 3.65 trillion in 2029. In 2027, debt servicing will account for nearly 12% of republican budget spending. That is 888 billion tenge more than the 2.67 trillion tenge allocated to healthcare and about four times the 857.7 billion tenge for education.

Deficit Financing

The 2027 budget deficit is set at 4.56 trillion tenge, with plans to cut it to 2.15 trillion in 2028 and 1 trillion in 2029. Government securities and the domestic market remain the main financing sources. Potential sources include second-tier banks, other financial organizations, the Unified Accumulative Pension Fund, and funds managed by the National Bank. Domestic deficit financing is planned at 3.47 trillion tenge in 2027, with external financing at 1.1 trillion tenge.