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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Kazakhstan to start investing its National Oil Fund assets into its own economy starting from 2014

Posted on 13 September 2013

Next year Kazakhstan will start investing oil savings into its own economy, according to the country’s Economic Affairs Minister Erbolat Dossayev. “In 2014-2016 Kazakhstan plans to inject its oil savings into the national economy, notably infrastructure projects to boost transit shipment and facilitate Kazakhstan’s exports to global markets”, Kursiv.kz quoted the Minister as saying.
To this end, the annual transfer [to complement the country’s budget] from the National Oil Fund will make up about $9 billion, with an extra transfer of $980 million to be earmarked in 2014 [according to an earlier statement made by the Minister, this special transfer will go to finance prep works for EXPO-2017 to be held in Astana and some large-scaled infrastructure projects]………………………………………..Full Article: Source


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