Kazakh National Welfare Fund increases profit by 13 percent
Kazakhstan, Astana, Feb.3/Trend, T.Nurmagambetov /
The Samruk-Kazyna Welfare Fund has increased its consolidated profit by 13 percent to 594 billion tenge ($4 billion) in 2011, the fund said on Friday.
"According to preliminary estimates, its consolidated profit without second-level commercial banks was 594 billion tenge, or 13 percent more than in 2010," the report says.
According to the preliminary results for 2011, the company's plans were overfulfilled and growth was achieved in terms of production and financial results compared to 2010.
The fund was established to increase tje competitiveness and sustainability of the national economy and to prevent the potential negative impact of global market changes on economic growth.