Kazakhstan’s general government revenue falls to 21.2% of GDP - ADB

Photo: ADB

BAKU, Azerbaijan, October 14. Kazakhstan's general government revenue declined by 2.5 percentage points year-on-year in the first half of 2026, according to Trend's calculations based on data from the Asian Development Bank's (ADB) Asian Development Outlook.

"In the first half of 2026, general government revenue declined to 21.2% of GDP from 23.7% in the same period of 2025. Transfers from the National Fund of the Republic of Kazakhstan, the sovereign wealth fund, fell to 2.6% of GDP from 5.1%, reflecting the absence of targeted transfers", the ADB said.

The bank noted that tax revenue edged up to 17.7% of GDP from 17.5%, driven by nominal increases of 41.9% in value-added tax (VAT) and 7.3% in corporate income tax, while higher oil prices boosted crude oil export duties by 23.3%.

"Nontax revenue decreased to 0.6% of GDP from 1.0%. General government expenditure declined to 24.4% of GDP from 25.3%. The state budget deficit widened to 3.2% of GDP from 1.6%, while the non-oil deficit narrowed to 7.1% of GDP from 7.9%. Debt service costs rose to 3.0% of GDP from 2.7%", the ADB said.

According to Trend's calculations, nontax revenue fell by 0.4 percentage points, while general government expenditure declined by 0.9 percentage points. The state budget deficit widened by 1.6 percentage points, while the non-oil deficit narrowed by 0.8 percentage points. Debt service costs rose by 0.3 percentage points.