Almaty held presentation 'National Fund of Kazakhstan, investment in sustainable development'

MATY. November 23. KAZINFORM /Yaroslav Golchenko/ Presentation on the theme "National Fund of Kazakhstan, investment in sustainable development" was held in Almaty on Wednesday.

Representatives of state bodies and independent experts from Kazakhstan, Azerbaijan and Russia exchanged opinions on further improvement of models of the formation, management and use of the National Fund and the use of international practices in the operation of sovereign wealth funds.

The National Fund of Kazakhstan was founded in 2000 as a stabilization fund that ensures the economic stability of Kazakhstan. For eleven years the fund has received nearly KZT 12 trillion. The main sources of the formation of the National Fund of Kazakhstan are the direct taxes levied on oil sector enterprises, which provide 85-90 percent of revenues in the fund.