The National Welfare Fund Samruk-Kazyna is going to borrow money from the National Fund by issuing new obligations. All these funds will be allocated by the holding for strategically important infrastructure projects. To make it possible, the country’s government has even decided to amend the current legislation and expand the list of financial tools the National Fund is allowed to invest in.
These tools include securities issued by Samruk-Kazyna in order to fulfill the order of the president and implement a set of strategic infrastructure projects.
Thus, Samruk-Kazyna has already announced that tariffs in the gas, energy and logistic sectors will be raised to the fair market level in the coming 3-5 years.
According to Ernat Berdikulov, executive director on strategy and asset management in Smruk-Kazyna, the fund is going to act as a co-investor in projects which require a significant amount of investments or when a big foreign investor is needed. He made this statement during the presentation of the holding’s strategy for 2023-2032.
In September, Samruk-Kazyna reported a 4.11% decline in its assets ($51.605 billion) while the total decrease in the fund assets since January 2022 reached 6.72%.
On November 24, President Tokayev signed a law on guaranteed transfer from the National Fund over 2023-2025. When Economy Minister Alibek Kuantyrov presented this draft law in the parliament, he noted that new rules will let the National Fund restore its assets to $66.7 billion in 2023 and $78.8-93.2 billion in 2024-2025.