The National Fund’s foreign exchange holdings will rise to 70.6 billion US dollars by 2029, Deputy Prime Minister – National Economy Minister Serik Zhumangarin announced at today’s meeting in the Kazakh capital, Qazinform News Agency reports. According to the base scenario, the National Fund’s net revenues are forecast to reach 0.5 trillion tenge in 2027, 1.4 trillion in 2027 and 2 trillion in 2029.
He said the Fund’s foreign exchange holdings will increase from 65.2 billion US dollars in 2027 to 70.6 billion US dollars in 2029. Earlier Qazinform reported, at today’s Government meeting, Finance Minister Madi Takiyev presented the basic parameters of the draft budget for the next three years.
He said republican budget revenues are projected to hit 25.6 trillion tenge, or 12.9% of GDP, while expenditures will rise to 30.2 trillion tenge. The budget deficit is reported to be 2.3% of GDP. He added 4.4 trillion tenge will be attracted from the National Fund.
Of which 2.4 trillion tenge is guaranteed transfer and another 2 trillion tenge is targeted transfer. These funds will be directed to critically important facilities and nationwide projects.