Kazakhstan Public Expenditure and Financial Accountability Assessment 2018
Kazakhstan, which has a population of about 18 million, has made enormous social and economic progress since it became independent in 1991. The economy grew at an annual rate of 6.6 per cent during the decade up to 2014, driven by the development o...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/654911553767528153/Kazakhstan-Public-Expenditure-and-Financial-Accountability-PEFA-Assessment-2018 http://hdl.handle.net/10986/31519 |
| Summary: | Kazakhstan, which has a population of
about 18 million, has made enormous social and economic
progress since it became independent in 1991. The economy
grew at an annual rate of 6.6 per cent during the decade up
to 2014, driven by the development of oil and gas and other
mineral resources. Income per capita in US dollars
multiplied by ten times during the period up to 2014, and
poverty was reduced to 4 percent of the population.This
assessment was initiated in March 2018. Where the
performance ratings are based on three years of PFM
statistics, the period is 2015-17, with 2017 as the most
recent completed fiscal year. Administrative arrangements
and practices are assessed as they were in the second
quarter of 2018. The assessment focuses on the Central
Government’s Republican Budget (RB), covering subnational
governments, which are responsible for about 40 percent of
spending on public services, and public corporations only to
the extent required by the PEFA criteria.The PEFA assessment
shows that the Government is able to maintain aggregate
fiscal discipline in difficult times, and that taxation,
financial control and payment and accounting systems all
work efficiently. Investment planning is under effective
central direction as is demonstrated by city development and
infrastructure improvements achieved since 2000. However, as
the WB review points out, the share of GDP absorbed by
government expenditure is low compared with the OECD
average, leaving much scope for improvement in health and
education services. Strategic planning is well-established
throughout Government, contributing to a more strategic
allocation of resources, but greater clarity is needed in
demonstrating the links between policy instruments and
objectives, with a fuller explanation of the performance
targets and results. Medium-term forecasts cover only the
three years immediately ahead, and there are no projections
beyond that horizon which would demonstrate how fiscal
sustainability is to be maintained, given the development of
the Government’s assets and liabilities. |
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