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    Published

    01/23/2025, 17:49

    National Bank profits and state dividends in 2024 saved the budget from underperformance

    Actual revenues of the republican budget in 2024 amounted to 410.6 billion KGS, which is 32.2 billion more than expected. This growth was possible due to more than twofold increase in non-tax revenues. If not for this, the budget would have fallen short of the approved figures.

    Initially, it was planned that budget revenues for 2024 would amount to 378.4 billion KGS, of which 318.3 billion KGS were to come from taxes, 17.9 billion from official transfers, and 42.1 billion from non-tax revenues.

    But in fact, tax revenues were lower than expected by 7.7 billion soms, and transfers - by 2.8 billion soms. As a result, the budget could be short of 10.5 billion soms.

    The situation was corrected by non-tax revenues, which grew to 84.8 billion KGS instead of the expected 42.1 billion KGS. This growth allowed not only to compensate for the shortfall, but also to exceed the planned revenues.

    The main factors of growth of non-tax revenues are the increase in interest receipts from government loans and credits by 3.2 times (up to 5.03 billion KGS), record dividends - 21.4 billion KGS and profit of the National Bank of Kyrgyzstan - 12.4 billion KGS. Interestingly, initially in the approved budget for 2024, the National Bank's profit inflow to the treasury was not envisaged. 


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