Kazakhstan, Astana, Oct.14 / Trend, A. Maratov /
As of Sept.1, assets of the National Fund of Kazakhstan hit 7.252.1 billion tenge (about $49.1 billion), Kazakh Economic Development and Trade Minister Kairat Kelimbetov said earlier this week.
He said according to the Concept of formation and use of the National Fund's funds, a guaranteed transfer to the national budget is fixed in absolute terms at $8 billion and is set at the amount of 1.200 trillion tenge annually over three years.
"When directing the guaranteed transfer in 2012, the principle of minimum balance to the amount of 20 percent from the forecast values of GDP has been observed as of the late financial year, defined in the Concept of the National Fund, which, according to forecast data, will hit 30.1 percent, or 8.708.2 billion tenge," Kelimbetov said during his speech in the Majilis.
The draft law "On guaranteed transfer from the National Fund of Kazakhstan for 2012 - 2014" was developed in accordance with Paragraph 2 of Article 24 of the Budget Code.
The official exchange rate is 147.7 tenge to $1 on Oct.14.