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National Fund revenues to be directed to realization of anti-crisis measures: Kazakh Ministry of Economy and Budget Planning

ALMATY. April 21. KAZINFORM /Daniyar Sikhimbayev/ The concept of the National Fund was changed this year for the period of the crisis, Kazakh Vice Minister of Economy and Budget Planning Timur Suleimenov has said today at the Fitch Ratings conference in Almaty. Today all scheduled revenues to the National Fund about KZT 1.2 bln will be directed to the economy and the national budget for realization of the antirecessionary measures and financing of current expenditures, T.Suleimenov said. According to T.Suleimenov, KZT 1.2 bln is the revenues from the oil sector that traditionally go to the National Fund and after, by means of guaranteed transfers, retargeted to the development projects. As long as the President in his Address defined concrete spheres that needed additional financing, additional final transfer to the amount of KZT 347 bln was necessary. In this regard, the funds of the guaranteed and final transfers will be directed to the budget within the year, the Vice Minister said. He added that the foreign exchange reserves will remain at the same level.


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