Kazakhstan Implements Fresh Regulations for Disbursement of National Fund Proceeds
Kazakhstan has implemented new regulations to enhance accountability and transparency in the use of its National Fund. These changes were adopted following recommendations from the Supreme Audit Chamber (SAC) after an assessment of fund transfers from 2019 to 2021 [1][4].
The new rules require the return of National Fund resources if they are misused or remain unspent during the reporting year. Clear rules and timelines for returning funds have been established, including for funds used for unauthorized purposes and those disbursed as budget loans and bond borrowings [4]. This ensures that funds cannot be repeatedly used after their original intended purpose has been fulfilled.
The changes were formalized by amendments to Kazakhstan’s Budget Code and a government resolution adopted on July 2, 2025, which updates the framework around managing and utilizing the National Fund. The Ministry of Finance has also issued supporting orders on budget execution, treasury accounting, and budget revenue distribution, aligning with these new rules [1].
The reforms aim to enhance the transparency and efficient use of the fund’s resources, reflecting President Kassym-Jomart Tokayev’s directive. A reactivated commission under the Supreme Audit Chamber now monitors National Fund use with updated priorities [1].
The SAC advised the government to amend existing legislation to specify the timeframe and procedure for returning unused resources. The chamber also recommended clear rules for the return of funds used for unauthorized purposes [2]. Based on these findings, the SAC recommended establishing rules for the return of funds in cases where their original purpose was not fulfilled within the reporting year [3].
In summary, Kazakhstan has implemented a new regulation for the return of National Fund resources if they are misused or remain unspent. The regulations provide clear rules and timelines for returning funds, include returned funds previously disbursed as loans or bonds, are supported by legal amendments and new government resolutions, and are monitored by a restructured commission for strong oversight and transparency. These measures address past issues of ineffective or unauthorized use by ensuring funds are recovered promptly and cannot be recycled improperly, reinforcing fiscal discipline in managing the National Fund [1][4].
[1] Supreme Audit Chamber Press Service [2] The Ministry of Finance [3] The Commission for Monitoring the Use of National Fund Resources [4] The Government of Kazakhstan
- In response to the Supreme Audit Chamber's recommendations, the Ministry of Finance has issued new regulations to ensure the prompt return of National Fund resources if they are misused or left unspent during a reporting year.
- These regulations also establish clear guidelines for the return of funds in cases where their original intended purpose was not fulfilled within the reporting year, ensuring the efficient use of the National Fund in Kazakhstan's business and finance sectors.
