The Kazakhstan Experience

摘要

The last several years were remarkable for Kazakhstan's economy, which has been growing at least 9 percent per year due to favorable commodity prices worldwide and considerable inflows of foreign investments.rnSubstantial foreign currency inflows into the economy have led to the increase of both foreign exchange reserves of the National Bank of Kazakhstan (NBK) and assets of the National (Oil) Fund. The National Fund is similar to the Norway Pension Fund in that it accumulates all state budget revenues coming from crude oil export. The National Fund's proceeds are invested abroad and managed by the NBK.