Kazakh President receives Head of National Bank

The President of the Republic of Kazakhstan, Nursultan Nazarbayev meets with the Governor of the National Bank, Daniyar Akishev, reports the press service of Akorda.

Егемен Қазақстан
25.01.2019 3904

During the meeting, Daniyar Akishev reported to the Head of State on the results of the National Bank's activities in 2018 and presented information on the current situation in the country's financial market.

Highlighting the upward trend for a number of economic indicators, the President of Kazakhstan dwelt on the effectiveness of measures being taken to reduce the inflation rate.

"The inflation rate at the level of 5.3 percent is a good figure. However, it is achieved by reducing the volume of market liquidity, not by the efficiency of the economy. The National Bank and the Government do not work well on that front. By withdrawing money it is possible to reduce the inflation rate to a greater extent, while it is not known how this decision will affect the economy. Alongside this, it is worth mentioning a noticeable decrease in the number of long-term loans," said Nursultan Nazarbayev.

Pointing to the adoption of a number of amendments to the existing legislation, the Head of State also underlined the need for appropriate oversight in this regard by the National Bank.

In turn, Daniyar Akishev told about the implementation of the instructions on process industry lending outlined in the latest Presidential Address. Besides, the Governor of the National Bank reported to the President of Kazakhstan on the factors, which influence the change in the national currency rate.

"The exchange rate of the Kazakhstani Tenge to the US Dollar decreased by 15.6 percent in the space of a year. The main reasons are external factors. World oil prices remain very volatile, just as the external conditions, including the persisting protectionist and sanctions policies. However, the floating exchange rate let us absorb all the shocks and preserve the gold and foreign exchange reserves, which amounted to $30.9 billion at the end of the last year. The National Fund's foreign-currency assets amounted to $57.7 billion," said the head of the National Bank. Akishev also presented information on the work being done in the field of lending and stabilization of the financial market.

"Improving the financial sector, we make it possible for sound players of the market to develop. I believe that after the measures taken, the volume of loans will increase significantly. We expect an increase of more than 10 percent in 2019, which is higher than nominal GDP. Accordingly, loans will become more affordable, and the situation will gradually improve. We are in favor of a more balanced growth rather than an explosive one, which in the future can lead to problems," said the Governor of the National Bank.

At the end of the meeting, the Head of State entrusted him with several specific instructions.  

LATEST

18.02.2019

Head of Kazakh Republican Space Communications Centre appointed

18.02.2019

Astana to enjoy Poetry in Music concert

18.02.2019

The first opponent of Daniyar Yeleussinov was defined in 2019

18.02.2019

Gorka Izagirre wins Tour de la Provence after a dramatic final at stage 4

18.02.2019

New US Ambassador to Kazakhstan: I am very happy to return to Kazakhstan again

18.02.2019

Kazakh Senate Speaker attends Munich Security Conference

18.02.2019

Miguel Angel Lopez wins Tour Colombia 2.1

16.02.2019

Bakytzhan Sagintayev meets with Chairman of the Board of Eurasian Development Bank Andrey Beliyaninov

15.02.2019

Constitutional Council announces decision on Presidential appeal

15.02.2019

Kazakh President meets with winners and prize-winners of international sports competitions

15.02.2019

Southern Gas Corridor can transport gas from Turkmenistan, Kazakhstan, says SOCAR

15.02.2019

Astana’s Lopez comes in 4th in sprint at Tour Colombia 2.1. Stage 3

15.02.2019

Askar Mamin presented new first deputy akim of Turkestan region

15.02.2019

New deputy mayor of Astana appointed

15.02.2019

Effectiveness of measures to ensure social well-being considered at meeting of Government Working Group

14.02.2019

President signs decree on military discharge of conscript soldiers

14.02.2019

Bakytzhan Sagintayev holds a meeting of State Commission for Modernization of Economy

14.02.2019

Yeldos Ramazanov appointed vice minister of culture and sports

14.02.2019

Nurzhan Altayev dismissed as vice minister of labor and social protection of the population

14.02.2019

Kazakh President meets with the participants of the project "100 new faces of Kazakhstan"

COLUMNISTS

Aliya Ashim, Journalist

Brazil’s version of Trump: why is it a «wake-up call» for the world?

<p style="text-align: justify;">A racist, a homophobe, a misogynist, a pro-torturer. Because of the profane outbursts and verbal abuse, he has earned such an image and was even considered as a political clown. Once he insulted lawmaker claiming that she was too ugly to be worth of raping. What is more, he said that he’d rather have a dead son than a gay one. Therefore, analysts concluded that Brazil has elected the most extremist president among democratic countries. So why did Brazil decide to make «really radical shift»? How did such an «extreme» and «unpleasant» figure become a president?<br /> </p>

Jylkybay Jagyparuly,

Mechanical engineering is a potential pillar of the economy

In industrialized countries, one of the most important indicators of the economy is the level of development of the machine-building industry. Independent Kazakhstan, striving to achieve ambitious goals, is making great efforts to develop machine building in the process of diversifying its economy.

Alisultan Kulanbay,

June 4 - Day of State Symbols of Kazakhstan

State symbols - the State Flag, State Anthem and State Emblem demonstrate to the world the independence of the Republic of Kazakhstan, also continuity between the past, the present and the future of the state.

Ainash ESALI,

Is it all good that they advertise?

Advertising is the driving force of production and business. This is an indisputable fact.

Nazira RAKHMANKYZY, Film critic

Splash of commercial films in Kazakhstan

Last year, the number of feature films which filmed reached thirty-six in Kazakhstan. We should say that it is an unprecedented figure in the history of Kazakh cinema in the last quarter century.

Comments(0)

ADD A COMMENT