On the terms of repayment and significance of projects

The Commission for Monitoring the Expenditure of the National Fund was established back in 2014 under the auspices of the National Bank; since 2020, this function has been assigned to the Supreme Audit Chamber (SAC). However, now, on the instructions of President Kassym-Jomart TOKAYEV, the commission's activities are being resumed in an updated format and with a new, more representative and solid composition.

In his September address to the people of Kazakhstan, the head of state emphasized that “the National Fund’s resources should first and foremost serve the interests of our state and be used to achieve strategic goals, rather than serve foreign financial institutions.”

Recently, after a long break, a face-to-face meeting of the commission was held under the chairmanship of the head of the Supreme Anti-Corruption Agency, Alikhan SMAILOV (pictured). It was attended by officials from the presidential administration, the National Bank, the Prosecutor General's Office, state agencies for combating corruption, for financial monitoring, as well as national security agencies, the finance and national economy ministries, and members of parliament.

According to Smailov, approaches to monitoring the legality and efficiency of spending of the National Fund's funds will be updated, as public attention to the rational use of this money is growing. This is also connected with the launch of the presidential program "National Fund for Children".

- The transfers from the National Fund must ensure an economic return, - Smailov noted. - These funds cannot be spent on insignificant purposes.

The main tasks of the commission will be to conduct an audit of funds allocated from the National Fund to support the economy on preferential terms, as well as to formulate proposals for the redistribution of the fund's resources to the highest priority areas or their return.

Alexander SKRELING, Astana