24 Oct 2014 14:42

Kazakhstan to boost reserves of National Fund 70% by 2017

ASTANA. Oct 24 (Interfax) - Kazakhstan expects the reserves of its National Fund to reach $121 billion by 2017, said First Deputy Minister of National Economy Marat Kusainov.

"In the mid term, the reserves of the National Fund will increase to make $121 billion by 2017 or 36.2% of GDP," Kusainov said at a meeting with senators on Friday in Astana.

In 2013, the assets of the National Fund grew 21.78% to $70.544 billion. So, the assets are expected to soar 70% by 2017.

Kusainov said the government would restrict the use of the National Fund's reserves in order to increase its assets through oil revenue.