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Senate of the Parliament
of the Republic of Kazakhstan

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Senators met with representatives of the International Monetary Fund

16.11.2022 57

Deputies of the Senate Committee on Finance and Budget met with representatives from the International Monetary Fund on ensuring transparency in the fiscal sphere.

Secretary of the Committee Sultanbek Makezhanov acquainted the participants of the meeting with the work being done by the Senate together with the Government to improve the budget process. The Deputy talked about a number of previously adopted amendments, which are the basis for quality budget planning and strengthening the savings function of the National Fund.

"The next stage of the budget process is the annual budget execution and control report. It is one of the elements of budget reporting and reflects all operations on receipts and financing of the Republican budget expenditures that were carried out during the reporting fiscal year. This report is considered in detail by the external state audit, which forms a conclusion,"- said the Senator.

At the same time, the meeting participants discussed the strengths and weaknesses of the fiscal sphere and the setting of priorities for strengthening its fiscal institutions to improve transparency in the budget-fiscal sphere.

In his turn, the representative of the International Monetary Fund told the deputies about the main indicators for assessing transparency in the fiscal sphere. These include the provision of comprehensive and reliable information on the past, current and future activities of public administration organizations.

At the end of the meeting, the parties noted the importance of improving budgetary processes and readiness to cooperate in this field.

(Senate Press Service, 74-72-27. Photo by B. Serikbay)

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