Astana, Kazakhstan, Nov. 11
By Daniyar Mukhtarov - Trend:
Around $3 billion will be annually transferred from the Kazakh National Fund to the state budget until 2017, Kazakh President Nursultan Nazarbayev declared in an address to his nation.
"There is a moment when we must use the reserves of the Kazakh National Fund," he said. "Kazakhstan must not make the mistakes of other countries. The accumulated funds must be redirected to improve the welfare of the country. In these conditions, I give instructions on additional allocation of up to $3 billion from the National Fund annually in 2015, 2016 and 2017."
The president instructed the government to prepare a resolution on the allocation of funds from the National Fund within a week and to take into account the necessary funds in the draft state budget of Kazakhstan for 2015.
"The government must also take measures to ensure effective and rational use of these funds," the president said.
He said that the relevant commission will control the effective use of funds.
edited by CN