Kazakhstan to draw over 1.3 trillion tenge from National Fund in 2027
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Kazakhstan's government expects nearly 1.3 trillion tenge less in tax revenue for 2027 than planned a year ago. The shortfall will be partly covered by withdrawals from the National Fund exceeding projected annual oil-sector contributions. The budget deficit and public debt are rising alongside allocations for nuclear power and development institutions.
Key Facts
- The government expects nearly 1.3 trillion tenge less in tax revenue for 2027 than planned a year ago.
- Withdrawals from the National Fund are set to exceed projected annual oil-sector contributions to the fund.
- Hundreds of billions of tenge are allocated for nuclear power plants, development institutions, and other large projects.
Revenue Shortfall
The tax reform was expected to increase budget revenue, but 2027 projections have already been revised downward. The government now expects nearly 1.3 trillion tenge less in tax revenue than planned a year ago. The shortfall will be compensated in part by withdrawals from the National Fund.
National Fund Withdrawals
Planned withdrawals from the National Fund exceed the projected annual contributions from the oil sector. The budget deficit and public debt are rising in parallel. Hundreds of billions of tenge are earmarked for nuclear power plants, development institutions, and other large projects.
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