PRESIDENTIAL DECREE OF THE REPUBLIC OF KAZAKHSTAN

of December 22, 2020 No. 474

About modification and amendments in the Presidential decree of the Republic of Kazakhstan of December 8, 2016 No. 385 "About the Concept of forming and use of means of National fund of the Republic of Kazakhstan"

I DECIDE:

1. Bring in the Presidential decree of the Republic of Kazakhstan of December 8, 2016 No. 385 "About the Concept of forming and use of means of National fund of the Republic of Kazakhstan" (SAPP of the Republic of Kazakhstan, 2016, No. 63, the Art. 397) the following changes and amendment:

in the Concept of forming and use of means of National fund of the Republic of Kazakhstan approved by the above-named Decree:

in the Section "5. The basic principles and approaches on forming and use of means of National fund":

subsection "5.1. Principles of forming and use of means of National fund":

add with part five of the following content:

"Since January 1, 2021 the guaranteed transfer from National fund in the republican budget will have special-purpose character for ensuring social and infrastructure development.";

state Item 1 in the following edition:

"1. The guaranteed transfer

The size of the guaranteed transfer from National fund in the republican budget will constitute in 2021 - 2 700 billion tenges; in 2022 - 2 400 billion tenges.

Since 2023 for ensuring accomplishment of savings function of National fund determination of the size of the guaranteed transfer will be based on the countercycling budget rule setting direct restriction for growth rates of the public expenditures at the level of the target long-term economic growth increased by long-term goal on inflation.

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