Kazakhstan plans to change method of formation of the national budget

Almaty. November 11. Silkroadnews – Within the coming years Kazakhstan plans to change the method of formation of the national budget, Responsible Secretary of Kazakhstan’s Ministry of Finance Natalya Korzhova reported, KazTAG writes.

“We move to completely new principle of formation of the state budget. Within the coming years we will approve a new Budget code and start the budget formation using we the “charging” method. That is, we are moving away from the cash basis, when the principle is to collect a revenue and charge the costs based on the revenues gathered.

Instead we will apply the charging method taking into account the debt obligations of the coming period”, N. Korzhova said at the XI International Conference “Eurasian Economic Integration” in Moscow on Friday.
According to her, “it is an important step”. “As the country has adopted a new law on PPP (public-private partnership – Silkroadnews). We move toward the service model in the financing of projects, and (...) we fully support the need for digital Kazakhstan. It is a separate program – as the whole informatization in Kazakhstan, according to the new law, will be carried out on the service model”, she added.

“That is, businessmen, by the way not only the Kazakhstani ones but from the EEU (Eurasian Economic Union – Silkroadnews) as well, will get the opportunity to bring to the needs of Kazakhstan the new information products, and then thereafter we will pay technical support for the information systems brought out of the budget”, N. Korzhova said.