PRESIDENTIAL DECREE OF THE REPUBLIC OF KAZAKHSTAN

of September 1, 2005 No. 1641

About the Concept of forming and use of means of National fund of the Republic of Kazakhstan for the medium term

I DECIDE:

1. Approve the enclosed Concept of forming and use of means of National fund of the Republic of Kazakhstan for the medium term.

2. This Decree becomes effective from the date of signing.

Approved by the Presidential decree of the Republic of Kazakhstan of September 1, 2005 No. 1641

The concept of forming and use of means of National fund of the Republic of Kazakhstan for the medium term

1. Introduction

Today the condition of the Kazakhstan economy in general is substantially determined by situation in the sector of natural resources. The existing dependence of receipts of the republican budget on natural resources puts number of questions before the state, connected with the future of Kazakhstan. First, it is question of the correct planning of use of natural wealth in connection with their irretrievability. Secondly, it is question of decrease in dependence of amounts of state revenues and expenses from sharp and unpredictable jumps of the world prices for natural resources.

For the solution of the matters No. 402 "About National fund of the Republic of Kazakhstan" was created by the Presidential decree of the Republic of Kazakhstan of August 23, 2000 National fund.

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