Astana, Kazakhstan, Feb. 11
By Daniyar Mukhtarov - Trend:
Kazakhstan will take all necessary measures to prevent sharp fluctuations of the national currency rate - tenge, Kazakh President Nursultan Nazarbayev said at the enlarged session of the government Feb. 11.
"Of course, Kazakhstan will take all necessary measures to prevent sharp fluctuations in the tenge rate," he said.
The president urged the holdings and national companies in the country to maintain the tenge rate through exchange transactions.
"I am appealing to all national companies," the president said. "Of course, it is also necessary to take into account your interests. But this must be done now. There are your interests and common interests."
At the same time, President Nazarbayev said that despite the external factors, a crisis is not observed in the economy of Kazakhstan.
The president said that the global crisis has its manifestations.
The president attributed the decline of world oil prices by more than twice, lowering of prices for other export commodities such as metals, ore, the economic crisis, including the depreciation of the Russian ruble rate, the recession in Russia to these manifestations.
"There are 43 million unemployed, 850 million people suffer from hunger in the countries of the Organization for Economic Cooperation and Development," said Nazarbayev. "The unemployment rate stands at 11.5 percent in the Euro area. That's what the global situation is like, and we are part of the world, and it certainly affects us."
However, despite the political problems and the crisis around the world, Kazakhstan completed the 2014 year with a positive result, he said.
On February 11, 2014, the National Bank of Kazakhstan devaluated the tenge by 19 percent and at the same time established a corridor of the national currency rate fluctuations against the US dollar at a level of 185 KZT per dollar plus or minus 3 KZT. In September 2014, the National Bank expanded the rate fluctuation corridor to 170KZT -188 KZT per dollar.
Edited by CN