Kazakhstani Parliament adopts law on guaranteed transfer from National Fund in 2015-2017
Astana. November 26. KazTAG - Senate deputies have approved the draft law "On guaranteed transfer from the National Fund in 2015-2017".
The law has been sent to the President for signing.
"The draft law has been developed in compliance with the point 2 article 24 of the Budget code. according to the resolution of the council on management of the National fund on increase of fixed size of guaranteed transfer by 15%, its size in 2015-2017 has been defined to 1 702 bln tenge annually," said Yerbolat Dosayev, Minister of National Economy, presenting the draft law at the plenary session on November 19.
"According to the prognosis the total volume of funds from the National Fund will increase from $97.7 bln in 2015 to $115.6 bln in 2017- 34.2% to the GDP," he said.
The law adoption will provide full financing of expenses of the republican budget including new initiatives in the oil and gas field and prevent negative socio-economic consequences.