Reasons Behind the Tax Reform. In 2025, Kazakhstan recorded a serious warning sign in its public finances. Under the Law on the Republican Budget for 2025–2027, Kazakhstan’s budget deficit was set at approximately USD 7.84 billion, representing 2.7% of the country’s GDP. However, without support provided through transfers from the National Fund, the deficit would reach approximately USD 21 billion, or 7.3% of GDP. his level of deficit reflected weak public finance planning. [...]