Astana, 28 October. The Finance Ministry plans to direct 5 trillion tenge from the National Fund to infrastructure in 2027–2029, 2 trillion in 2027 and 1.5 trillion in each of 2028 and 2029, but has not explained why the Supreme Audit Chamber raised questions about the status of 66 projects worth about 1 trillion tenge, BES.media reported after querying the ministry.
According to the auditors, of 272 projects for 2027, 58 worth 492.8 billion tenge are classified neither as critical nor as nationally significant, and eight transport projects worth 515.9 billion tenge have no defined status in the portfolio of state investment projects. Yet the Budget Code allows targeted National Fund transfers only for projects in these categories. The final list, according to the Finance Ministry, will be approved after the 2027–2029 budget law is adopted.
Comparison with the address shows a difference in scale: the President ordered about 6.5 trillion tenge from the National Fund for the Infrastructure Modernisation Plan by the end of 2029, plus another 1.5 trillion tenge to launch projects this year and in early 2027. The Finance Ministry has not explained how the 5 trillion tenge in the draft budget relates to the address's instruction. On 14 October the 2027–2029 draft budget was backed at first reading by 128 of 134 deputies, while the OSDP faction did not support it, partly over the use of National Fund money.
What it means: Even before "People's Construction" begins, auditors have pointed out that almost one in four projects seeking National Fund money does not meet the Budget Code's conditions. Where the trillions go depends on how the government resolves these questions.
Who benefits: The budget and the public, which gain from controls that ensure National Fund money goes only to genuinely important projects. Ministries and regions whose projects lack the required status will have to justify them.
Background: The Supreme Audit Chamber is Kazakhstan's main state audit body, accountable to the President; it checks budget execution and the use of public funds.
We have also reported on what is known about the 6.5 trillion tenge "People's Construction" plan.
