Financing education spending in the context of interbudgetary relations in the Republic of Kazakhstan

Abstract

In the current conditions, education is endowed with strategic importance as a sphere of social activity that directly forms the level of intelligence of the population, ensuring competitiveness and innovation in the development of the country's economy. Therefore, the study’s relevance is because the educational capital obtained in the learning process is a combination of theoretical knowledge, practical skills, work experience, and personal characteristics that bring a person income during his career and stimulate further investment in education. Education impacts each citizen’s income and directly affects the economic development of the country, its financial capabilities, and national competitiveness. Thus, this article aims to reveal the critical aspects of republican and local financing of education in Kazakhstan and the prospects for its development. The methodological basis of the research is formed by a system of general scientific and unique research methods: synthesis, system-analytical analysis, and abstract-logical method. The critical result of the work is the systematization of acquisitions within the framework of the researched topic and the study of the features of optimizing the decentralization of education financing in Kazakhstan. Proposed: to increase the efficient distribution of financial resources at all levels of the budget system; increase the opportunities for educational institutions to raise additional funds through educational innovations, expand the list of paid services provided by such institutions; carry out decentralization of education, taking into account the characteristics of the regions, their production potential, the demographic situation and the interests of territorial communities. The results of this scientific study, as well as the conclusions formulated on their basis, are of significant importance both for the scientific community and for financial experts and practitioners from the educational field since they have a structured presentation of the material based on which logical and constructive conclusions are drawn, which may have an impact on the subsequent processes of reforming the financial provision of education in Kazakhstan.