Title: Kazakhstan's National Fund - Children: Breakdown of Annual Allocations for Every Child
"Fund for Kids' Financial Allocation": What was the monetary distribution for each child?
Get the scoop on how much money each child in Kazakhstan receives through the National Fund - Children project, straight from Minister of Finance Madina Takiev!
At a recent joint meeting of Parliament's chambers, deputies were briefed on the 2024 republican budget execution. According to Takiev, the National Fund saw a 16% increase last year, reaching a staggering $66.2 billion.
Takiev proudly announced that the 'National Fund - Children' program has been a significant boon for over 7 million kids over the past two years, with each receiving approximately $233 per child in total.
The year 2024 witnessed a growth in GDP by 4.8%, primarily due to the non-oil sector. By the end of May that year, GDP had increased by a whopping 6%. The share of non-oil revenues in the consolidated budget rocketed by 2.5 percentage points over the course of the year.
Inflation has taken a nosedive from 9.8% to 8.6%, and the budget deficit stood at 3.6 trillion tenge, or 2.7% of GDP. State debt reached 31.8 trillion tenge, or 23.7% of GDP.
Interestingly, as of June 1, 2024, an astounding 6.9 million children in Kazakhstan were participants in the state program "National Fund - Children". Out of these, 6,919,131 children received an average allocation of $100.52 each, amounting to a grand total of $695.5 million.
For those curious about where the funds may be going, check out our article "Where did the money go?" Why Kazakhstani citizens do not see the promised allocations to children.
On social media, users react to the announcement with a mix of sentiments. Some express dissatisfaction, like "No to Nur Nuru", who remarks, "Shame, it would be better not to give it at all, it's just a handout. Better nothing than this mess."
Others, like Arman, welcome the extra support, "Even a small amount would be great. Of course, it's better to get free, quality education back. But no matter how much you give our people, they're never satisfied. I'm working two jobs now to save up for my older daughter's education. But I hope to get a grant."
On a final note, for the convenience of our users, we have streamlined the commenting process by incorporating automatic geolocation of comment authors.
Fun Fact: It's interesting to note that the average annual allocation to each Kazakh child through the National Fund - Children program varies slightly by year. In 2024, every child born since 2006 who was a participant received an average allocation of about $100.52 USD per year. However, in the subsequent year, this amount climbed up to approximately $129.38 USD per year. Over the course of these two years, for children who had participated for a full two years, their aggregate savings including investment income amounted to just over $232.94.
[1] Enrichment Insight: These figures are based on publicly available data from Kazakhstan's Ministry of Finance and the National Fund – Children program.
The Minister of Finance, Madina Takiev, shared that each child in Kazakhstan's National Fund - Children program received approximately $233 per child in total, and in 2024, every participating child received an average annual allocation of about $100.52 USD. Furthermore, the following year, this amount rose to approximately $129.38 USD per year.
