BAKU, Azerbaijan, January 6. Kazakhstan National Fund received 6.4 trillion Kazakh tenge ($13.6 billion) from oil exports in 2022, Trend reports, citing the press service of the Finance Ministry.
This constitutes an increase of 3.8 trillion Kazakh tenge ($8.1 billion) compared to the 2021 revenue from oil sales.
Currently, Kazakhstan National Fund’s financial resources amount to 28.6 trillion Kazakh tenge ($61 billion). A year prior, this figure stood at 28 trillion Kazakh tenge ($59.7 billion).
For the first time in several years, proceeds received by the Fund from oil sales exceeded the expenses, which accounted for 4.6 trillion Kazakh tenge ($9.8 billion).
The Kazakhstan National Fund was established in 2020 by the government. The main objective of the Fund is to manage oil revenue more effectively.