site.news_by_theme National Fund

A transfer of $980.3 million will be made in 2014 out of the National Oil Fund to finance prep works for EXPO-2017 to be held in Astana.

The country’s international reserves grew 4.1% in the H1 2013, reaching $89.6 billion: Minister of Economic Affairs.

The payback from the pension reform could be insignificant should the Single Pension Fund’s assets be invested in the same way the National Oil Fund’s assets are invested: Fitch Ratings.

Second-tier banks have a lot of other opportunities and tools to raise money and other reserves to turn to: Nursultan Nazarbayev.

The National Oil Fund’s assets as of April 1, 2013 stood at $59.806, 3.53% up against the start of the year.

Kazakhstan’s Economic Affairs Minister comments on President Nazarbayev’s remarks over the $10 billion allocated to combat the financial crisis.

“It’s easy to ask for money out of the National Oil Fund. The $ 10 billion allocated to combat the financial crisis is gone. There is no pay-off”, he said.

At the meeting they dwelt on ways to expand lending through attracting fund from pension funds, insurance companies and foreign investors.

According to the Central Bank Governor, since the start of the year $2.2 billion has been channeled to fill the National Oil Fund.

Earlier Tengrinews.kz reported that Mr. Marchenko doesn’t support the World Bank’s suggestion on launching a single pension fund.

With the assets of the National Oil Fund used to finance S&MBs, the APR could stand at 6-7%.

The Fund’s assets in 2011 and the H1 2012 grew by $20.8 billion: National Bank’s Governor Gregory Marchenko.

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.

So far we don’t plan to further change the breakdown of currencies in the nation’s currency reserves: Central Bank Governor.

US companies have directly invested into the Kazakh economy $22 billion, with the overall US investments into the Kazakh economy since Kazakhstan gained independence standing at $38 billion.

Since the start of the year the net gold and FX reserves have grown by 19.93%.

The National Oil Fund assets managed by the National Bank will be used to purchase the bonds.

In his latest State of the Nation Address, 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.

According to Kazakhstan geologists, geological reserves of Kashagan are estimated at 4.8 billion tons of oil.

In his State of the Nation Address January 27, 2012, 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.