BAKU, Azerbaijan, June 24
Trend:
Minister of National Economy of the Republic of Kazakhstan Aset Irgaliyev spoke about the plans to reduce guaranteed transfers from the Kazakhstan National Fund, Trend reports referring to Kazinform news agency.
"This is a very relevant issue,” Irgaliyev said at the briefing in the Central Communication Service under the President of the Republic of Kazakhstan. “In fact, the guaranteed transfers from the National Fund will be reduced in stages. The guaranteed transfer will be reduced up to 2.7 trillion tenge ($6.3 billion) in 2021, the guaranteed transfer will be reduced to 2.4 trillion tenge ($5.6 billion) in 2022, up to 2.2 million tenge ($5,142) in 2023."
“The guaranteed transfers are targeted upon the president’s instructions,” the minister said. “That is, they will be directed only to the issues of social and infrastructural development.”
“Moreover, a countercyclical budget rule will be implemented upon the president’s instructions from 2023,” Irgaliyev added. “It will help to save huge funds in the National Fund when oil prices are high and transfer them to the budget for its balance when they are at low levels."
