ACTUAL PROBLEMS OF THE STATE AUDIT OF BUDGET INVESTMENTS

Abstract

The realities of today require prompt actions from governments within the framework of their state policies. Close attention is paid to the effective management of public funds, respectively, socioeconomic development, the growth of real incomes of the population, the increase in its standard of living and, in general, the question of human-centricity.

Budget investments have a special role as an instrument of economic development. However, the question is in the effective use of this tool. The simple reasons for not achieving socioeconomic goals are deviations from the time of project implementation and, accordingly, cost overruns. Researchers and practitioners name various reasons for time deviations that lead to a greater deviation in costs, i.e. the presence of time overruns in government projects increases the likelihood of cost overruns. The problem is relevant for Kazakhstan.

The article provides a literary review of the issues raised, an analysis of the budget investment projects implemented in 2021 of the Republic of Kazakhstan, discusses the issues of the effectiveness of the management of budget investments of the Republic of Kazakhstan and offers suggestions on possible measures to improve this system.