Kazakhstani children under 18 to receive $150 annually
In Kazakhstan, each child under the age of 18 will be annually transferred $150 to a savings account in accordance with the National Fund for Children project, which the Ministry of Finance of Kazakhstan submitted to the Senate of the country. This was reported by nur.kz on Wednesday.
The program will be launched in 2024. At the birth of a child, accounts will be opened automatically based on the database of individuals of the Ministry of Justice. Every year on January 1, a conditional accrual of funds to the accounts of children up to the age of 18 will be made, the agency reports.
50% of the income of the National Fund is planned to be distributed among all Kazakhstanis under the age of 18. Savings will be made in foreign currency with interest to protect them from inflation. Thus, from the moment of birth until the age of 18, each Kazakhstani will have at least $3,000 in his account. Accounts will be exempt from taxes.
It is noted that savings accounts will be opened for all children, including those who were born before the launch of the project. Upon reaching the age of 18, payments to participants in the program will also be made in dollars. They will be able to spend the money at their own discretion - to buy housing in Kazakhstan or for education, including abroad.
If a child under 18 leaves the country and changes citizenship, he will lose the right to receive funds. His savings will be distributed among other program participants, the report says.
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