President of Kazakhstan signs law on transfer of funds from country’s National Fund
By Trend
President of Kazakhstan Nursultan Nazarbayev signed the law "On guaranteed transfer from the National Fund of the Republic of Kazakhstan for 2018-2020", the press service of the Kazakh president said in a message.
The law provides approval of the size of the guaranteed transfer from the National Fund of the Republic of Kazakhstan to the republican budget for 2018-2020.
In accordance with the Decree of the Kazakh president dated December 8, 2016 "On the Concept of Formation and Use of funds of the National Fund of the Republic of Kazakhstan", a guaranteed transfer to the republican budget will be fixed in absolute value in tenge and set at a rate of 2 trillion tenge starting from 2020.
At the same time, the amount of the guaranteed transfer from the National Fund to Kazakhstan’s national budget will be gradually phased down.
In 2018 it will amount to 2.6 trillion tenge, in 2019 - 2.3 trillion tenge, in 2020 and subsequent years - 2 trillion tenge.
The amounts of the guaranteed transfer from the National Fund in 2018-2020 ensure compliance with terms on the minimum balance of funds in the National Fund of Kazakhstan, amounting to 30 percent of the forecasted GDP.
(Exchange rate for 04.12.2017: $1 - 331 tenge)
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