PRESIDENTIAL DECREE OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2019 No. 234

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 change 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 six of the following content:

"For the purpose of realization of stabilization function the National Bank of the Republic of Kazakhstan depending on the current situation in the financial market makes converting and rekonvertation of assets of National fund according to the procedure, established by Board of National Bank of the Republic of Kazakhstan. These operations are performed for allocation of the guaranteed and target transfers and do not belong to interventions of National Bank of the Republic of Kazakhstan.";

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 2019-2021 2 700 billion tenges annually.

Since 2022 the size of the guaranteed transfer will decrease to 2 000 billion tenges.

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.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info