Moderate inflation rate to be provided in next five years: G.Marchenko

October 19. KAZINFORM. ASTANA

Serik Sabekov

Moderate inflation rate to be provided in next five years: G.Marchenko“Monetary policy of the National Bank will be aimed at the provision of moderate inflation rate”, Chairman of the National Bank of Kazakhstan Grigory Marchenko has said today at the session of the “Nur Otan” Party’s faction in the Kazakh Parliament.

“We set the task for the nearest five years to hold the inflation rate in diapason from 5 to 8%. Such rate of inflation will allow to preserve sustainable economic growth”, he said.

Besides, G.Marchenko stressed that measures on provision of sustainable functioning of the financial system will be taken as well.

http://www.inform.kz/eng/article/2205564

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National Fund’s means makes USD 24 bln – Marchenko

October 19. KAZINFORM. ASTANA

Serik Sabekov

The total volume of the National Fund’s means makes USD 24 bln at present, Chairman of the National Bank Grigory Marchenko has said at the enlarged sitting of Nur Otan Faction in the Majilis of the Kazakh Parliament today.

“To date the total volume of the National Fund’s means makes USD 24 bln plus obligations, tenge component comprises KZT 600 bln. As for the composition, 64% are obligations, 22% are money in their equivalence. It means these are absolutely liquid assets and 14% are shares only”, he said.

According to Marchenko, Kazakhstan National Fund is more conservative than similar funds in the Arabic countries, Norway etc. Therefore, the Fund didn’t face losses; on the contrary, it showed growth in the reporting period of 2009 – 7.18% of return.

Despite allocation of the money for anti-crisis program, the National Fund grew in this period, he added.

http://www.inform.kz/eng/article/2205644

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Exchange rate policy should adequately react on world prices changes – G.Marchenko

October 19. KAZINFORM. ASTANA

Serik Sabekov

The exchange rate policy should adequately react on the world prices changes. Chairman of the National Bank Grigory Marchenko has announced it at an enlarged session of faction of the Nur Otan People’s Democratic Party.

“We will take measures, which are intrinsic to the central bank with using of all statutory instruments of the monetary policy for the short-term liquidity regulation. The exchange rate policy will be directed to ensuring balance between internal and external competitiveness. We would not allow revaluation of exchange rates, national currency, which can affect the competitiveness of the domestic production in global conditions”, the Chairman noted.

According to him, the exchange rate policy should adequately react on the world prices changes. At the same time support of economy competitiveness can not be solved only by the exchange rate policy. The main role in it should play measures on improving labor productivity, production quality, economic restructuring and diversification.

http://www.inform.kz/eng/article/2205646

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