A possible increase in VAT in Kazakhstan from 12% to 20% will lead to higher prices, lower real incomes and higher inflation. This forecast was made by Askar Kysykov, director of the Talap Center for Applied Research, on the Rossiya 24 TV channel. The Government of Kazakhstan is discussing tax reform in order to solve the problem of the state budget deficit. The reform involves an increase in VAT from 12% to 20%.
An expanded government meeting was held today with the participation of President Kassym-Jomart Tokayev. Opening the meeting, Kassym-Jomart Tokayev noted that global processes can have a strong impact on the republic, which must be prepared for. At the same time, at the meeting, the Head of State emphasized that it is necessary to start living within your means, spending money only on solving the most important tasks. For more information, see the talk show "Results".
In the final episode of the Finmentor Podcast on macroeconomics, our guest, Askar Kysykov, Director of the Talap Center for Applied Research, summed up the current economic challenges in Kazakhstan and discussed development prospects for 2025. Among the key topics:
The National Bank recently decided to keep the base rate at 15.25% per annum with a range of +/- 1 percentage point, Kazinform agency correspondent reports.
At the end of last year, the dollar exchange rate in the exchangers of Kazakhstan exceeded 530 tenge.
