ASTANA, Nov. 12 (BSS/Xinhua): Kazakh President Nursultan Nazarbayev announced that the government will allocate 500 billion tenge (about 2.8 billion U.S. dollars) from the national fund to rekindle the nation's economy, according to the president's press service yesterday.
"To complete the ongoing projects and to resolve crucial issues, I instruct the government to direct the second tranche of funds from the National Fund in the amount of 500 million tenge," the president said in his annual address to the nation. In February, Nazarbayev ordered the government and central bank to allot 1 trillion tenges (5.5 billion dollars) in two tranches to support economic growth after the tenge, the national currency, saw a sharp devaluation, sparking nationwide concerns over the country's economy. Tuesday's allocation is the second tranche.
Kazakhstan to earmark $2.8b to rekindle economy
FE Team | Published: November 13, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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