Kazakhstan to use money returned to country to implement projects

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The illegally withdrawn assets returned to Kazakhstan will be directed towards the implementation of important projects in the social sphere, infrastructure projects, and will also be invested in production, creating new jobs, said Prime Minister of Kazakhstan Alihan Smailov in the corridors of the Senate.

"As of today, assets worth about 1 trillion tenge (over $2 billion) have been returned. Of these, about $600 million is from abroad. This will continue," the Prime Minister said.

He emphasized that the work on asset recovery is carried out strictly in accordance with the adopted law. "As for the individuals falling under the scope of this law, it is clearly defined by the law itself. These are individuals who, using administrative resources, obtained illegal assets. Honest individuals have nothing to worry about. The commission forms a registry, specific individuals are included in it, regarding whom the prosecutor's office has questions about the legality of the assets they possess. Negotiations are held with them to transfer the assets either voluntarily or through legal proceedings," noted A. Smailov.


November 24, 2023