The TALAP Center for Applied Research invites media representatives to the round table "Is Kazakhstan facing a public finance crisis?" The event will take place on April 19, 2024.
For many years, the Government faced the task of reducing the budget's dependence on transfers from the National Fund. But the budget still depends on oil revenues. Non-oil receipts cover only 70% of state budget expenditures.
The reassurance provided by the National Fund's savings is offset by growing public debt. At the beginning of 2024, public debt amounted to 27.2 trillion tenge ($59.8 billion), and more than 2 trillion tenge is spent on servicing it.
Over the past three years, budget expenditures have grown by 60%, or 10.5 trillion tenge. At the same time, the money is spent on current tasks, while strategic goals recede into the background. The new Government is revising budget priorities, but so far expenditures have been optimized by only 300 billion tenge.
- Where is the growing public debt leading: to development or to default?
- Should oil revenues be saved or used?
- How can the balance and sustainability of the budget be ensured?
- Is the consolidation of public finances possible?
- How can the efficiency of public spending be increased?
Event programme
09:30–10:00 — registration of participants, morning coffee break.
10:00–11:00 — moderator: Rakhim Oshakbayev, chief economist of the TALAP Center for Applied Research.
Speakers:
- Azamat Amrin, Vice Minister of National Economy of the Republic of Kazakhstan
- Madi Takiyev, Minister of Finance of the Republic of Kazakhstan (to be confirmed)
- Askar Kysykov, Director of the TALAP Center for Applied Research (Pressing problems of the public finance system)
- Murat Temirkhanov, adviser to the Chairman of the Management Board of Halyk Finance (How to increase the efficiency of public finances?)
11:00–12:30 — discussion and exchange of views.
Invited participants:
- Nauryz Sailaubai, member of the Committee on Finance and Budget of the Mazhilis of the Parliament of the Republic of Kazakhstan
- Alik Shpekbayev, Chairman of the Presidium of the National Anti-Corruption Network (via Zoom)
- Nurlan Sakuov, Deputy Director of the Kazakhstan Institute for Strategic Studies
- Zauresh Batalova, President of the Foundation for the Development of Parliamentarism in Kazakhstan
- Galymzhan Aitkazin, General Director of AERC Beta LLP
- Gulsana Daribayeva, Director of the Budget Planning Department of the Ministry of National Economy of the Republic of Kazakhstan
- Kuanysh Zhaikov, Head of the DESHT analytical center
- Sergey Domnin, Head of Kursiv Research (via Zoom)
- Timur Abilkasymov, Chairman of the Management Board of NAC Analytica
- Kuanysh Beisengazin, Deputy Chairman of the Management Board of the Economic Research Institute
- Rustam Zhursunov, Commissioner for the Protection of Entrepreneurs' Rights
- Daniyar Kuanshaliyev, Head of Macro Analytics at ERG Kazakhstan
- Rasul Rysmambetov, financial analyst (via Zoom)
- Zhanybek Aigazin, General Director of Applied Economics Research Centre (AERC) LLP
- Nurlan Zhazylbekov, member of the Presidium of the National Anti-Corruption Network (via Zoom)
- Bulat Kassymov, Head of the Eurasian Innovation Development Foundation
- Didar Smagulov, Executive Director of the public association "Adildik Zholy"
- Rafael Gasanov, President of the Association of Orphanage Graduates of Kazakhstan, editor-in-chief of the Independ.kz news agency
- Arman Beisembayev, economist, financial expert at Tickmill (via Zoom)
- Ksenia Zagal, Director of the Center for Fiscal Policy of the Economic Research Institute
- Eldar Shamsutdinov, economist (via Zoom)