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National Oil Fund’s investment income standing at $5.3 billion since 2001

12 may 2012, 16:46
0
© Yaroslav Radlovsky
© Yaroslav Radlovsky
National Oil Fund’s investment income since it was established back in 2001 made up $5.3 billion, Vice Minister of Finance Ruslan Dalenov wrote in his Twitter account May 11.

According to the National Bank, the National Oil Fund’s assets as of the end of April 2012 reached $51 billion.

The yield of the National Oil Fund’s investments in 2011 made up 1.37%, with the overall yield for 11 years making up 61.86%, with the average annual yield according to the National Bank’s annual report.

The National Fund of Kazakhstan was created in 2000 as a stabilization fund that accumulates windfall revenues from oil sales and ensures the economy of Kazakhstan will be stable against the price swings of oil. The assets of the National Fund assets are monitored by the National Bank of the Republic of Kazakhstan.

In his latest State of the Nation Address [January 27], President Nazarbayev suggested the National Oil Fund money be used in the form of loans to the national economy rather than kept with foreign banks.


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