President of Kazakhstan refutes rumors on further devaluation of national currency

Business Materials 26 February 2009 17:02 (UTC +04:00)

Kazakhstan, Astana, Feb. 26 /corr. Trend K.Anirova /

The President of Kazakhstan, Nursultan Nazarbayev, refuted rumors on further devaluation or denominations of tenge and on annulment of licenses of any banks, and highlighted the absence of any prerequisites for such radical steps, the press service of the Presidential Administration said.

"The President mentioned the need to cut expenditure of central and local executive agencies, and also reduce the number of large-scale measures, dedicated to different dates, adding that during the crisis, republic and local budgets must be maximally economized," the press service said.

Do you have feedback? Contact our journalist at: [email protected]