The National Bank plans to offload up to a staggering $700 million from its National Fund in the upcoming month of July.
The National Bank of Kazakhstan has announced that it will be selling funds from the National Fund to support the republican budget, with the sale scheduled for July. This move is part of the Government's budget requests and comes as a surprise, as the National Fund's sales in June contributed more to the total trading volume compared to the anticipated July sale.
In June, the National Fund generated a significant amount of 800 million dollars through sales, which was approximately four times the anticipated daily sales for July. This sale accounted for 17% of the total trading volume, making a substantial impact on the financial market.
The National Bank is responsible for managing and selling the funds from the National Fund. The Fund's assets include a diversified portfolio of financial instruments such as foreign currency, debt instruments, and equity investments in Kazakhstani issuers.
The National Fund is primarily sourced from revenues of the oil and gas sector, a dominant part of Kazakhstan’s economy. The Fund's management reflects Kazakhstan’s efforts to sustainably handle resource wealth, balancing immediate fiscal needs with long-term economic stability.
The Government has been actively managing and periodically selling the assets from the National Fund to support the budget. Monthly transfers from the National Fund to the budget in 2025 ranged between 450 billion to 620 billion Kazakhstani tenge, with corresponding sales volumes in the hundreds of millions of USD.
The National Bank is also exploring innovative financial instruments, like a potential sovereign crypto-asset reserve under state control, reflecting evolving approaches to managing national wealth and financial stability.
This sale is expected to provide liquidity and budgetary financing, helping to stabilize macroeconomic conditions and fund government expenditures when needed. The funds generated from the sale will be allocated to the republican budget, supporting its ongoing operations and development.
The sale was reported by Vechernyaya Astana, highlighting the importance of this financial move for the country's economy. The National Bank's efforts to manage the National Fund and generate funds for the budget demonstrate a commitment to long-term fiscal stability and economic growth in Kazakhstan.
The National Bank's sale of funds from the National Fund in July, aimed at supporting the republican budget, follows a surprise development as the June sale generated a significant 800 million dollars, amounting to 17% of the total trading volume. This sale, managed by the National Bank responsible for the National Fund's assets in a diversified portfolio of financial instruments, will contribute to budgetary financing, providing liquidity, and stabilizing macroeconomic conditions.
