Kazakhstan, Astana,
Jan. 10 / Trend , K.Konirova/ Kazakhstan
Government's Council of Economic Advisers discussed the specific mechanisms for
the implementation of key areas of the anti-crisis program for 2009-2010, according
to Kazakh President's press service. The meeting was chaired by Kazakhstan's Prime Minister Karim Masimov.
On the agenda were the macroeconomic and social stability, the stabilization of
the financial sector, the settlement of problems in the real estate market, the
support to small and medium businesses, the implementation of innovative,
industrial and infrastructure projects, as well as the development of
agro-industrial complex
The mechanisms and instruments of monetary policy, the trade balance of the
country, the additional capitalization of the backbone second-tier banks, the
organization of the Stress Assets Fund, the involving of the means of the accumulating
pension funds to finance the mortgage lending program and to develop the housing.
"The Government's approaches to support the small and medium businesses and the
lending through the second-tier banks were thoroughly discussed. A set of
proposals to improve the availability of micro crediting in rural areas and to reduce
the administrative barriers to business was put forward," the report says.
As part of the Council of Economic Advisers, working groups were set up in the key
areas of the joint action plan among the Government, National Bank and Financial
Market Supervision Authority (FMSA) to stabilize the economy and the financial
system for 2009-2010. These are the support to macroeconomic stability; the stabilization
of the financial sector, the solution of problems in the real estate market; the
support to small and medium businesses; the agricultural development; the implementation
of breakthrough innovation, industrial and infrastructure projects; the
employment and support to socially vulnerable populations.
The Council of Economic Advisers was created at the request of the Prime
Minister in November, 2008 in order to hold consultations with Kazakhstan's leading experts on the current economic and social issues. It is composed of
leading Kazakh experts and the representatives of research centers specializing
in economic issues.
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