IRSTI 06.73.15 DOI: https://doi.org/10.55871/2072-9847-2023-58-1-59-67 A.Zh. Ismailova* E-mail: a_sembi@mail.ru Astana, Kazakhstan 2st year doctoral student on «State Audit» L.N. Gumilyov Eurasian National University ORCID:0000-0003-1692-5748 Astana, Kazakhstan Head of «State Audit» Department L.M. Sembiyeva Doctor of Economics, Professor L.N. Gumilyov Eurasian National University E-mail: sembiyeva@mail.ru A.A. Burtebaeva L.N. Gumilyov Eurasian National University Astana, Kazakhstan E-mail: burtebaeva2000@gmail.com ORCID:0000-0001-7926-0443 ORCID:0000-0001-9217-3977 2st year master student on «State Audit» 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. Keywords. Public investments, efficiency, selection methodology, monitoring of implementation, evaluation of budget investments. Introduction Literature review Experts, based on the results of relevant studies, assign the main role to public investment to stimulate growth [1-3]. An increase in public investment in advanced economies and emerging market countries can become a driver of economic activity recovery in the most difficult periods of modern history. An increase in public investment by 1% of GDP can increase the level of GDP by 2.7%, private investment by 10%, and employment by 1.2% if the quality of investment is high [1]. The analysis conducted by the IMF experts showed that due to inefficiency, countries on average waste about 1/3 of infrastructure spending. Their estimates show that more than half of these losses can be compensated by improving the quality of infrastructure management [4]. The issue of efficiency with limited budgetary resources is always on the agenda of governments, Kazakhstan is no exception. Numerous concepts, methodologies and regulatory acts are being developed to improve the efficiency of the budget system as a whole. But the problem of the effectiveness of budget investments, starting with deviations and overspending on budget investment projects, which as a consequence lead to non-achievement of socio-economic indicators, i.e. to the deterioration of the vital activity of every citizen, whose tax deductions were in fact used inefficiently, remains. One of the main approaches to the formation and implementation of the budget policy of the Republic of Kazakhstan in the new conditions is to increase the efficiency and socio-economic impact of budget expenditures [5]. (i) by helping to stimulate economic growth, it means that successful investments in the long term should meet the needs of the population and not be the result of the influence of political cycles [6]; Over the years, examples of the benefits of public investment have been cited in the scientific literature, namely: * Corresponding author ISSN 2072-9847 e-ISSN 2958-986X