(MENAFN- Trend News Agency) ASTANA, Kazakhstan, April 30. About $16.7billion is illegally withdrawn from Kazakhstan every year, saidSenator and Chairman of the Finance and Budget Committee SultanbekMakezhanov, Trend reports.
He made the remark during a round table on the topic“Implementing foreign exchange regulation to prevent the illegalwithdrawal of capital.”
"Every year, about $16.7 billion is illegally withdrawn fromKazakhstan. Our country ranks 11th in the ranking out of 148countries," he said.
According to him, Kazakhstan's economy is focused on rawmaterials.
"Kazakhstan relies heavily on the export of hydrocarbons andmetals. That is, minerals from the earth's bowels serve as thefoundation for our exports rather than the finished product with ahigh level of processing. As a result, the unlawful transfer ofcapital gained directly or indirectly through the export ofminerals is seen negatively by society and is closely monitored. Asa result, this dilemma extends beyond economics to become socialand political," he noted.
Meanwhile, Kazakhstan has returned illegally acquired assetsworth about 1 trillion tenge (about $2.22 billion) to the countryover the past two years.
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