Kazakhstan Implements New Guidelines for Redistribution of National Fund Proceeds
Kazakhstan has strengthened its regulations for the management and utilisation of the National Fund, following recommendations from its Supreme Audit Chamber (SAC). The changes aim to enhance transparency, accountability, and effective use of the National Fund's resources.
The key changes include the establishment of clear rules for returning funds used for unauthorised purposes, specification of the timeframe and procedure for returning unused resources, and the introduction of a mechanism to ensure the return of funds disbursed as budget loans and bond borrowings.
On July 2, 2025, a new government resolution was adopted, updating the framework for managing and utilising the National Fund. The amendments to the Budget Code were also introduced on the same day, in response to the SAC's recommendations.
The SAC conducted an assessment of targeted transfers from the National Fund from 2019 to 2021 and based on its findings, recommended the government to establish rules for the return of funds used for unauthorised purposes.
The commission for monitoring the use of National Fund resources has been reactivated this year and is now operating under the directive of President Tokayev. The commission's format has been updated to meet the current priorities set by the President.
The reforms cover various aspects, including budget execution and treasury operations, treasury accounting and execution procedures, unified budget classification guidelines, and regulations concerning the distribution of budget revenues among government levels, National Fund accounts, extra-budgetary funds, and budgets of Eurasian Economic Union member states.
The Ministry of Finance has introduced several orders for 2025 to support the implementation of these reforms. The SAC's recommendations also include amending existing legislation to clarify the return of unused National Fund resources.
Notably, a mechanism has been proposed to prevent the repeated use of funds once their original purpose has been fulfilled. This is a significant step towards ensuring the efficient and transparent use of the National Fund's resources in Kazakhstan.
The new regulation was implemented following the SAC's recommendations regarding the effectiveness of targeted transfers from the National Fund. The SAC's press service reported the adoption of the new resolution on Aug. 4.
President Tokayev continues to place strong emphasis on the efficient and transparent use of the National Fund's resources, and these reforms reflect his commitment to this goal.
[1] Source: Supreme Audit Chamber of Kazakhstan press release, Aug. 4, 2025.
- The newly established rules for returning funds used for unauthorised purposes and specifying the timeframe and procedure for returning unused resources in the National Fund's management are part of the finance sector, aiming to enhance transparency and accountability.
- The Ministry of Finance has issued orders for 2025 to support the implementation of reforms that include amending existing legislation to clarify the return of unused National Fund resources, which are essential for effective business practices.
