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Sovereign Wealth Funds Briefing - Categorized | Financials

Annual $3 billion to be allocated out of National Oil Fund to bolster nation’s wellbeing

Posted on 12 November 2014

As part of his Address to the Nation, Kazakhstan’s President Nursultan Nazarbayev has instructed his Government to allocate another $3 billion annually for the following 3 years out of the National Oil Fund accumulating windfall oil revenues, a Tengrinews.kz journalist reports from an extended sitting of the Nur Otan Party Political Council.
“The accumulated funds should be channeled at enhancing the nation’s wellbeing and they should be handled prudently. I commission to allocate an annual $3 billion in 2015, 2016 and 2017”, he said………………………………………..Full Article: Source


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