Revenues to Kazakhstan National Fund more than double

Baku, Azerbaijan, Dec. 19

By Rashid Shirinov – Trend:

At the end of November this year, the funds of Kazakhstan National Fund reached 25.1 trillion tenge, which is 15.8 percent up year-on-year, Trend reports with reference to Finprom.kz.

For the 11 months, revenues to the Fund amounted to 4.8 trillion tenge, an increase of more than 2 times year-on-year.

Traditionally, the main share is made up of direct taxes from the oil sector enterprises: 2.9 trillion tenge (60.5 percent of the total revenues). This is 63 percent more than a year earlier.

Investment income from the Fund’s management amounted to 1.8 trillion tenge (38.9 percent of the total revenues). This is 14.7 times more than a year earlier.

Moreover, revenues from the privatization of state property of the mining and processing industries reached 11.9 billion tenge.

Meanwhile, the expenses of the Fund for January-November this year amounted to 2.6 trillion tenge, which is 37 percent down year-on-year.

A major share of the expenses accounted for guaranteed transfers: 2.6 trillion tenge (99.4 percent of the total expenses). Additional 16.1 billion tenge was spent to cover the costs associated with the management of the Fund and to conduct the annual external audit.

(371.31 KZT = 1 USD on Dec. 19)

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Follow the author on Twitter: @ShirinovRashid

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