Macro Analysis /
Kazakhstan

Kazakhstan: Budget draft 2022 entails strong spending, consolidation delayed

  • Headline deficit slightly lower at 3.3% of GDP, non-oil deficit drops to 8.1%

  • Macro framework based on relatively conservative assumptions, which curbs pandemic-related risks

  • Public debt payments higher at KZT 1.2tn, govt to finance deficit via domestic borrowing and possible eurobond issuance

Kazakhstan: Budget draft 2022 entails strong spending, consolidation delayed
Metodi Tzanov
EmergingMarketWatch
27 August 2021