Tokayev proposes $14.4 billion infrastructure splurge, shifts Kazakhstan's National Fund strategy
President calls for country to become 'one big construction site' while scrapping previous $100 billion fund target
Kazakh President Kassym-Jomart Tokayev has proposed withdrawing more than 21 percent of the country's National Fund, around 6.5 trillion tenge ($14.4 billion), to finance infrastructure projects through 2029, abandoning an earlier goal of growing the sovereign wealth fund to $100 billion. In an October 28 national address, Tokayev declared that 'Kazakhstan must turn into one big construction site.'