Kazakhstan's National Fund to be used only for tasks of national importance - Tokayev

ASTANA. Feb 7 (Interfax) - Kazakhstan's National Fund should be used only for tasks of national importance, President Kassym-Jomart Tokayev said.

"I have already said at a government meeting that the National Fund is part of our economy. Some observers and public figures say that the government borrows too much and too often from the National Fund. But it's another matter that the Fund's resources should not be used for purposes that are not supported by tasks of national importance," Tokayev's press office quoted him as saying at a meeting with business leaders.

He said the government was working on the creation of a guarantee fund using the long-term money of the Unified Accumulation Pension Fund.

"This is not enough, other concrete proposals are needed to stimulate the growth of credit to the real sector," Tokayev said.

Earlier, at an extended meeting of the government, Tokayev expressed the opinion that it is possible to more actively attract long-term money from the Unified Accumulation Pension Fund when implementing strategic projects with high economic returns.