Lecture N 13

“State off-budget funds”

Off-budget funds - set of the money resources used by the state on strict definite purposes and available legislatively fixed sources of formation.

Off - budget funds are classified into following attributes:

- to a target attribute - on social, economic, cultural purpose, etc.

- on a level of management - interstate, state, regional(local)

Accumulative State Pensions Fund- legal person who carries out activity on attraction of pension payments of depositors and pension payments to the addresses in the order, established by the legislation of RK and also carrying out activity on formation of pension assets and investing them in state securities, bank deposits, securities of international financial organizations.

The State Fund of Social Insurance- noncommercial organization in the form of joint-stock company, unique founder and which participant is the state.

Fund of national well-being- joint-stock company “Samruk-Kazyna” established in 2008.

The basic directions of activity of Fund are:

- Assistance in modernization and diversification of national economy

- Assistance in stabilization of a national economy

- Effectiveness of activity of companies.

Innovation Fund of Kazakhstan.

The Fund of development of Small Business.

National Fund of Republic of Kazakhstan(established in 2001).

The National Fund of RK represents financial assets of the states concentrated on the account of Government of RK in national Bank of RK and also as other property except for nonmaterial assets.