Article 53. Budget risk analysis report Budget Code of the Republic of Kazakhstan

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1. Fiscal risk shall be uncertainty that shall make it difficult to manage public finances and reduces the realism of the budget due to the impact of internal and/or external economic and/or macroeconomic and other factors in the medium term.

2. An analytical report on budget risks shall be formed annually during the development of the draft law on the republican budget for the next planning period by the central authorized body for budget policy together with the central authorized body for budget planning, the central authorized body for budget execution, the authorized body for state regulation, control and supervision of the financial market and financial organizations and the National Bank of the Republic of Kazakhstan in the order, defined by them, and sent to the central authorized body for budget planning.

3. Budget risk analysis report shall:

include macroeconomic, quasi-fiscal risks, financial sector risks, risks associated with public sector debt obligations, public liabilities under public-private partnership projects, and other specific risks;

be taken into account in the formation of the main directions of tax and (or) budgetary policy, long-term and medium-term forecasting, budget planning for the next planning period;

be used to assess the impact of budget risks on budget parameters;

be included in the materials attached to the draft law on the republican budget;

be published in accordance with Article 40 of this Code.

Code of the Republic of Kazakhstan dated March 15, 2025 № 171-VIII.

President

Republic of Kazakhstan

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