Transfers From National Fund Exceed One Trillion Tenge in Early 2025

Kazakhstan’s National Bank is closely tracking transfers from the National Fund, which have already surpassed one trillion tenge within the first two months of the year, Orda.kz reports.

Timur Suleimenov, head of the National Bank, emphasized the need for careful management of this rapid pace of spending.

We are in close communication with the government and understand that the pace of spending transfers should not be too fast. Otherwise, the supply of currency on the market may be limited toward the end of the year, Suleimenov explained.

He also clarified that the current reliance on the National Fund is mainly due to seasonal fluctuations in tax revenues. An increase in tax inflows is expected starting in April, easing pressure on the fund.

Additionally, Suleimenov assured that there are no plans to repeat last year’s extensive sale of quasi-public sector shares, noting that the regulator intends to maintain a cautious approach.

Original Author: Olga Ibrayeva