Kazakhstan to introduce new system of natural resource accounting

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ASTANA. KAZINFORM - On Friday, June 26, Kazakhstan announced its intentions to introduce a new system of natural resource accounting in the immediate future.

Minister of Energy Vladimir Shkolnik told a press conference in Astana that Kazakhstan plans to drop the old system of natural resource accounting and introduce the new one in next three years. "The existing system does not take into account the entire mineral wealth of the country," Minister Shkolnik said. According to him, the exchange houses and international financial institutes do not recognize the old system used in Kazakhstan. He continued, "The old system does not take account of fluctuations in oil prices".

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