Kazakhstan - Public finance



Kazakhstan has one of the fastest growing economies in the world, thanks almost entirely to high world oil prices. GDP grew9.6% in 2000, 13.2% in 2001, and 9.5% in 2002. The surge has been extremely helpful in ridding the government deficit. In 1999, the deficit was equivalent to 3.5% of GDP; by 2001 the government ran a primary surplus of 1.9% of GDP.

The US Central Intelligence Agency (CIA) estimates that in 2001 Kazakhstan's central government took in revenues of approximately $4.2 billion and had expenditures of $5.1 billion. Overall, the government registered a deficit of approximately $900 million. External debt totaled $11.6 billion.

The following table shows an itemized breakdown of government revenues and expenditures. The percentages were calculated from data reported by the International Monetary Fund. The dollar amounts (millions) are based on the CIA estimates provided above.

Kazakhstan

REVENUE AND GRANTS 100.0% 4,200
Tax revenue 65.6% 2,755
Non-tax revenue 12.3% 515
Capital revenue 4.5% 190
Grants 17.6% 740
EXPENDITURES 100.0% 5,100
General public services 7.5% 381
Defense 5.6% 287
Public order and safety 10.5% 536
Education 4.2% 213
Health 2.9% 149
Social security 32.8% 1,674
Recreation, cultural, and religious affairs 1.2% 63
Economic affairs and services 17.9% 915
Other expenditures 9.5% 485
Interest payments 7.8% 398
Also read article about Kazakhstan from Wikipedia

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