Hot news:
Former world champion challenges Golovkin Kazakhstan welcomes Geneva agreement on Ukraine Easter unites Kazakhstanis: Nazarbayev Golovkin makes Top 10 Most Impressive Boxers Peter Baruch's hearing postponed Eurasian Union to help Kazakhstan survive global competition: Nazarbayev Nazarbayev calls for changes in international law Gibraltar fire stops global online betting British tourist killed as Malaysia bus plunges into ravine Japan's digital eyes show your emotions for you Drunk Russian teen drives into Easter procession, kills two Pakistan bus crash kills 42 China auto show opens amid environmental, growth concerns Two-thirds of underwater search done, no sign of MH370 Iraq attacks kill 10 as bomber hits university Wrongfully imprisoned US boxer 'Hurricane' Carter dies Twitter blocks two accounts on its Turkish network Mexican troops free 60 migrants Archeological park to be built in Taraz: 2000 years of history Breast cancer rates in Kazakhstan highest in Central Asia Kazakhstan's Little Brother takes Federal Foreign Office award at goEast Miami mayor defends Beckham stadium plan Jimmy Choo creates Fukushima shoes line Historic mass in Turkish-held north Cyprus 'like a miracle' US police arrest man after LA Times shooting threat British filmmaker opens Moscow show under Ukraine shadow Football: World Cup ticketing centers open UN 'outrage' over South Sudan base attack SpaceX launches Dragon capsule to ISS DNA test harsh step for families of missing ferry victims China coal mine death toll rises to 20 Powerful quake rattles Mexico You can't choose your neighbors: Nazarbayev about Russia and China 6.6-quake hits off PNG's Bougainville: USGS Whoopi Goldberg debuts as marijuana columnist Interethnic relations are no political game: Nazarbayev Mattel reports loss as Barbie sales plummet Tennis: Kazakhstani Zarina Diyas gets in WTA Top-100 Facebook wants to beam the Internet from the sky Step aboard Orient Express for journey back in time Canadians rally to legalize marijuana Queen Elizabeth portrait released to mark 88th birthday Guides, climbers cancel Everest expeditions after tragedy President says ferry crew's actions 'tantamount to murder' Most Bangladesh factory survivors still too sick to work

National Fund's money reinvested in economy: Samruk-Kazyna

Sunday, 10.02.2013, 15:10
Comments (0)
National Fund's money reinvested in economy: Samruk-Kazyna
©REUTERS
The funds allocated from the National Fund for anti-crisis measures are being returned and reinvested in Kazakhstan economy, Tengrinews.kz reports citing chairman of Samruk-Kazyna National Welfare Fund Umirzak Shukeyev.

"The fund is monitoring the money of the National Fund injected during the anti-crisis program. In 2008-2009 the National Fund allocated the total of 1.09 trillion tenge ($7.25 billion) for anti-crisis measures, including 487.5 billion tenge ($3.25 billion) for stabilization of the financial sector, 120 billion tenge ($800 million) for implementation of innovative-industrial infrastructure projects, 480 billion tenge ($3.2 billion) for support of small and medium business and 170 billion tenge ($1.1 billion) for refinancing of mortgage loans and support to equity share construction. All the allocated money were spent on the condition of their return. 331 billion tenge ($2.2 billion) have already been returned as of today. All the returned money is being reinvested into economy," Shukeyev said.

He noted that based on the decision of the state commission on economy modernization, the returned money are spent only for implementation of priority projects of the State Program for Accelerated Industrial-Innovative Development.

On January 23 Nursultan Nazarbayev said at the meeting on results of the year 2012 and implementation of Kazakhstan-2050 strategy: "It’s easy to ask for money out of the National Oil Fund. The $ 10 billion allocated to tackle the financial crisis is gone. There is no pay-off. Everybody was saying at that time that the allocated amount would be recouped (…) The Fund’s money is for a rainy day, for a tough period when it is important to secure social well-being and to prevent the economy from collapsing (…) This money can only be used for development purposes."


By Renat Tashkinbayev
Views: 609    Comments: 0
preloader
Add a comment
preloader

2014
2008
2009
2010
2011
2012
2013
2014
April
January
February
March
April
May
June
July
August
September
October
November
December

News
Archive

Mo Tu We Th Fr Sa Su
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30

Feature stories