Kazakhstan to allocate 5 trillion tenge from National Fund for major construction

September 17, 2026 at 10:51 AM2 min

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Kazakhstan will allocate 5 trillion tenge from the National Fund over 2027-2029 for critical infrastructure and national projects. Vice Minister of National Economy Azamat Amrin announced the plan at a Kurultai bureau meeting on September 17. The funding includes 2 trillion tenge in 2027 and 1.5 trillion tenge annually in 2028-2029.

Key Facts

The targeted transfer from the National Fund for critical projects totals 5 trillion tenge over 2027-2029.
In 2027, the transfer will amount to 2 trillion tenge, followed by 1.5 trillion tenge annually in 2028 and 2029.
Republican budget revenues are projected at 19.9 trillion tenge in 2027, or 10% of GDP.
The guaranteed transfer from the National Fund is set at 2.43 trillion tenge in 2027-2028 and 2 trillion tenge in 2029.
The republican budget deficit is expected to reach 2.3% of GDP in 2027, declining to 1% in 2028 and 0.4% in 2029.

Funding Allocation

Vice Minister of National Economy Azamat Amrin announced the targeted transfer at a Kurultai bureau meeting on September 17. The transfer will allocate 2 trillion tenge in 2027 and 1.5 trillion tenge annually in 2028 and 2029 for critical infrastructure and national projects. President Kassym-Jomart Tokayev has designated a course toward a 'major construction' program covering roads, water supply, energy, and social infrastructure.

Budget Projections

Republican budget revenues are forecast at 19.9 trillion tenge in 2027, an increase of 2.8 trillion tenge from the current year's estimate. The growth is driven by economic expansion contributing 1.6 trillion tenge, reduced VAT refunds adding 1.1 trillion tenge, and other factors adding 0.5 trillion tenge. Republican budget expenditures are planned at 30.2 trillion tenge in 2027, 29.4 trillion tenge in 2028, and 29.6 trillion tenge in 2029. The budget deficit is projected at 2.3% of GDP in 2027, decreasing to 1% in 2028 and 0.4% in 2029.

National Fund Assets

Net foreign currency assets of the National Fund are projected at $65.2 billion in 2027, rising to $70.6 billion in 2029. The guaranteed transfer from the National Fund is set at 2.43 trillion tenge in 2027-2028 and 2 trillion tenge in 2029. Kurultai Deputy Speaker Daniya Yespayeva stated that the 2027 budget has been formed with almost no safety margin.