285 Billion Tenge Earmarked for Toqayev’s Initiatives

A draft law on Kazakhstan’s republican budget for 2026–2028 has been presented in the Majilis.  Orda.kz takes a closer look at how funds will be spent and where the money will come from.

Revenues and Deficit

According to the Ministry of Finance, republican budget revenues in 2026 are projected at 23.1 trillion tenge, with the deficit maintained at 2.5% of GDP. 

By 2028, the deficit is expected to be reduced to 0.9%. Total expenditures have been approved at 27.7 trillion tenge—two trillion more than this year.

Spending Priorities

• 3.5 trillion tenge will go to servicing the national debt.
• 500 billion tenge will be allocated to a reserve for emergencies and urgent expenses.
• 5.1 trillion tenge will be provided as subventions to the regions.

Vice Minister Abzal Beisenbekuly explained that the government had to cut back:

We wanted the 2026 budget to be balanced, without relying on targeted transfers from the National Fund. Of the declared 36.2 trillion tenge in expenses for 2026, only 27.7 trillion were approved. We selected only what was important and necessary. This made it possible to optimize current basic expenses, reducing their share from 15% to 12.3%. 

For the first time, the fund for presidential initiatives appears as a separate line in the budget. Back in July, the government approved new rules: up to 3% of budget revenues (excluding transfers) will be allocated to this reserve.

How it works:

• The president issues a directive
• A government agency submits a proposal to the Finance Ministry
• The ministry reviews it within five days.
• After approval by the presidential administration, the government signs the resolution.
• Funds are transferred.

Unused funds at the end of the year are returned to the budget.

The mechanism has already sparked debate. Critics point out that decisions on the distribution of funds are made without public discussion, raising concerns that the reserve could become a tool of political influence.

Supporters argue that such a flexible fund will allow the government to respond to crises more quickly than through traditional bureaucratic channels.

Original Author: Anastasia Prilepskaya