Kazakhstan authorities have transferred to the state budget over 40 billion tenge (over 90.4 million USD) illegally acquired assets. The information was disclosed after a meeting of the commission for the return of illegally acquired state property, chaired by the Prime Minister of the Republic, Oljas Bektenov.
„The Commission approved agreements for the voluntary return to the state of illegally acquired assets with a total value of more than 40 billion tenge. Of this, more than 38 billion tenge (over 85.9 million USD) is cash, as well as a business center in Astana worth 2 billion tenge (4.5 million USD). The returned funds will be used for social purposes, including eliminating the consequences of the floods, the announcement said.
The commission also approved the signing of investment agreements worth 7 billion tenge (15.8 million USD), under which two infrastructure facilities will be built in Astana and Shymkent. The implementation of these projects will create jobs and provide an additional inflow of tax revenue.
„The work of returning assets is a direct implementation of the policy of the head of state to restore social justice. All returned funds are used for the benefit of the people of Kazakhstan”, Bektenov stressed.
Kazakhstan President Kasim-Jomart Tokayev signed the law “On Return of Illegally Acquired State Assets“ in July 2023. In accordance with the norms of the law, mechanisms are applied for the return of entities of large corrupt and oligopoly groups that have merged with persons possessing administrative and power resources. A special commission was created in the General Prosecutor's Office, a commission headed by the Prime Minister for the return of illegal property began work.