Kazakhstan’s new budget policy: national currency weaker - state treasury fuller

11.02.2019

Higher oil prices with low tenge even with elevated State budget expenditures brought consolidated budget closer to balance in 2018, reserve accumulation of National Fund resumed, along with this increased budget dependence on oil, use of extra-budgetary funds (NBRK, ENPF) also rose that led to deep non-oil budget deficit.

State budget...