• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09669 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
12 May 2025

Viewing results 1 - 6 of 5

Frequent Textbook Revisions Cost Kazakhstan Over $32 Million, Audit Reveals

Frequent reissues of school textbooks have cost Kazakhstan’s state budget more than 16 billion KZT (over $32 million) in the past five years, according to a report by the country’s Supreme Audit Chamber (SAC). “Reforms in educational standards are being carried out unsystematically. Frequent changes in curricula have led to revisions of already issued textbooks and inefficient budget expenditures. Over the past five years, economic losses due to textbook revisions have exceeded 16 billion KZT,” the report stated. Supreme Audit Chamber head Alikhan Smailov explained that the criteria for evaluating textbooks have changed about 12 times in recent years, leading to repeated reprints of secondary school textbooks at the state’s expense. In 2023, the Ministry of Education updated textbooks for third, fifth, seventh, eighth, ninth, tenth, and eleventh grades, affecting 14 subjects as well as curricula for children with special educational needs. As a result, budget funds were allocated for the purchase of nearly 20 new textbooks aligned with the revised program. Since 2023, a regulation has been in place requiring publishers to cover the cost of reprinting textbooks but only in cases of printing defects or deviations from the approved version reviewed by the expert commission. When changes are made to school curricula, the government remains responsible for financing new textbook editions. The Supreme Audit Chamber believes that many of these revisions stem from deficiencies in the initial expert review of textbooks. Moreover, the expertise process is still not conducted through the public service monitoring system, which would allow for better oversight of its effectiveness. The audit revealed further inefficiencies in budget planning for schools, identifying: 62.4 billion KZT ($126 million) in misallocated funds 1.1 billion KZT ($2.2 million) in financial violations 3.2 billion KZT ($6.4 million) in misuse of public funds One example cited was discrepancies between the Ministry of Labor’s teacher demand forecasts and the actual needs of the education system when allocating funding for teacher training programs. Auditors also found that 66 schools across Kazakhstan, both public and private, were operating without valid licenses for educational activities. Additionally, only 18.2% of schools pass their certification on the first attempt, highlighting systemic weaknesses in school administration. The report also noted serious deficiencies in teacher training, retraining programs, and methodological support for educators. “We have increased financing for secondary education more than threefold in recent years. Given this, the state expects better outcomes from these investments,” said SAC head Smailov. As The Times of Central Asia previously reported, one in ten Kazakh emigrants cites the pursuit of better education, both for themselves and their children, as a key reason for leaving the country.

Kazakhstan Explores Budget Cuts and Tax Reforms with Input from Elon Musk

Kazakhstan is exploring ways to optimize its state budget, drawing inspiration from recent U.S. reforms. Deputy Prime Minister and Minister of National Economy Serik Zhumangarin revealed that Elon Musk, head of the newly established U.S. Department of Government Efficiency (DOGE), has offered assistance in implementing similar measures in Kazakhstan. According to Zhumangarin, Musk proposed helping the government identify potential cost-cutting areas, though he acknowledged that reducing social expenditures would be challenging. He welcomed Musk’s input, suggesting the formation of a working group to assess possible savings while ensuring that cuts do not negatively impact ordinary citizens. The discussion on budget efficiency comes as Kazakhstan prepares for tax reforms, including raising the value-added tax (VAT) from 12% to a proposed 16-20% and lowering the revenue threshold for VAT registration from 78 million KZT to 15 million KZT ($150,000 to $29,000). Officials estimate the changes could generate an additional 5-7 trillion KZT in revenue. However, the proposed reforms have met resistance. A petition argues that lowering the VAT threshold will disproportionately burden small and medium-sized enterprises (SMEs), forcing them to hire additional staff and leading to price increases. Some lawmakers have also warned that raising the VAT rate could drive inflation higher. Senate Speaker Maulen Ashimbayev has urged the government to reassess budget efficiency before implementing tax hikes, pointing to the U.S. model, where the Department of Government Efficiency is working to cut wasteful spending. While he does not advocate blindly following the U.S. approach, Ashimbayev believes Kazakhstan should consider similar measures as it debates tax increases and fiscal responsibility. As previously reported, Kazakhstan’s Ministry of National Economy had proposed reducing the number of taxes in the country by 21% a year ago.

Kyrgyzstan Proposes Banning Foreign Currencies in Domestic Transactions

Members of Kyrgyzstan's Parliament, the Jogorku Kenesh, have proposed that the national currency, the som, be established as the only means of payment in the country. The draft bill establishes that the som must be used in all domestic transactions, except for those related to export and import. It is seen as a step to reduce Kyrgyzstan's dependence on foreign currency, and stabilize the country's financial system. The draft law emphasizes that using foreign currencies -- especially in real estate, vehicle purchasing, and lending transactions -- creates additional risks for citizens. Sharp fluctuations in exchange rates make it more difficult for borrowers to repay debts. Similar measures have also been taken in Turkmenistan, where using foreign currency for everyday payments is almost entirely outlawed. Iraq has banned all domestic transactions to strengthen and stabilize the local currency, the Iraqi dinar.

Fight Against Corruption Allows Kyrgyzstan to Increase State Budget

The head of the Kyrgyz Cabinet of Ministers, Akylbek Japarov, has said that thanks to the fruitful work of the government, “a new era in the financial sector of the Kyrgyz Republic has begun.” During a conference, which was attended by ministers, deputies, officials of various levels, representatives of the World Bank, Asian Development Bank, and other international organizations, Japarov spoke about the new monetary policy. According to him, in 2020, the consolidated budget amounted to 247.8 billion KGS ($2.8 billion), whereas in 2024, the budget is estimated at 670 billion KGS ($7.6 billion). In four years, the authorities were able to increase the state budget by almost 400 billion som ($4.5 billion). “The reason for such achievements was the elimination of corruption. The main disease was the Kumtor deposit. Dividends received from it from 1994 to May 2021 amounted to $100 million. Over the past two and a half years, we have made a profit of $300 million,” Japarov said. The head of the Cabinet emphasized that Kyrgyzstan's GDP has reached 1.4 trillion som ($15.9 billion), while at the time of the collapse of the USSR and independence, the republic's GDP was only 100 million som ($1.1 billion). “The growth of state budget revenues has become a solid basis for the implementation of policies to improve the socioeconomic situation of citizens,” Japarov summarized.  

Turkmenistan’s Mejlis Adopts Law on the State Budget for 2024

On November 24th, the Mejlis of Turkmenistan, during its fourth meeting of the seventh convocation, unanimously adopted the Law "On the State Budget of Turkmenistan for 2024". The budget, which is based on comprehensive calculations backed by the state's financial capacity, aims to serve the interests of the people and their well-being. The session was chaired by President Serdar Berdimuhamedov, who addressed the priorities of the state policy. The meeting also considered several significant normative legal acts developed in line with the country's comprehensive program for the modernization of the legal framework. The main financial-legal document for local budgets in the forthcoming year was also discussed. The budget for 2024 is set to reach a total of 102,313.5 million Turkmen manat (US $ 29.23 billion), marking a significant increase from the previous year1. In addition to the 2024 budget, the Mejlis also unanimously adopted the Resolution "On the Implementation of the State Budget of Turkmenistan for 2022". The meeting further deliberated on several draft laws such as the "International Convention on Civil Liability for Damage from Bunker Fuel Pollution", "Amendments and Additions to Some Legislations of Turkmenistan", and "Protection of Objects of National Historical and Cultural Heritage". These legislative drafts were all unanimously approved and adopted. The adoption of the state budget for 2024 and the discussion of various legislative drafts underscore the government's commitment to modernizing the country's legal framework and boosting economic growth.