Experts Expect Kazakhstan to Overcome Budget Deficit
According to the Ministry of Finance, Kazakhstan ended 2024 with a budget deficit of 2.7% of GDP, amounting to around 3.6 trillion tenge. While the figure may seem significant, experts remain optimistic, saying there's no cause for concern.
A number of global and domestic challenges influenced the country’s economic performance last year. These included worldwide economic instability, trade tensions, ongoing conflicts, and a major flood that required substantial government spending on recovery efforts.
Financial analysts point out that Kazakhstan’s deficit is well within international norms. In fact, many countries — both developed and developing — are currently running budget deficits, some far higher than Kazakhstan’s. According to IMF recommendations, a deficit below 3% of GDP is generally considered acceptable, and Kazakhstan is clearly meeting that benchmark.
The government is continuing to invest heavily in modernizing the economy and improving infrastructure — efforts that experts believe will pay off in the long run. These investments are seen as key to boosting productivity, attracting investment, and ultimately reducing the budget gap in the future.
In short, while the numbers may raise eyebrows at first glance, the outlook remains largely positive. As analysts note, this moderate deficit may actually help lay the foundation for sustainable economic growth in the years ahead.
A number of global and domestic challenges influenced the country’s economic performance last year. These included worldwide economic instability, trade tensions, ongoing conflicts, and a major flood that required substantial government spending on recovery efforts.
Financial analysts point out that Kazakhstan’s deficit is well within international norms. In fact, many countries — both developed and developing — are currently running budget deficits, some far higher than Kazakhstan’s. According to IMF recommendations, a deficit below 3% of GDP is generally considered acceptable, and Kazakhstan is clearly meeting that benchmark.
The government is continuing to invest heavily in modernizing the economy and improving infrastructure — efforts that experts believe will pay off in the long run. These investments are seen as key to boosting productivity, attracting investment, and ultimately reducing the budget gap in the future.
In short, while the numbers may raise eyebrows at first glance, the outlook remains largely positive. As analysts note, this moderate deficit may actually help lay the foundation for sustainable economic growth in the years ahead.