Baku, Azerbaijan, Nov. 15
By Ali Mustafayev – Trend:
The government of Kazakhstan plans to enhance the role of the financial sector in the country’s economy.
“The main task is to make the country's financial institutions the main investment sources. This was the main function of the financial sector until 2008,” said the Deputy Prime Minister of the Republic of Kazakhstan Yerbolat Dosayev at the VII Congress of Financiers of Kazakhstan, Kazakh media outlets reported.
He added that the government wants the financiers to take a big share of the “burden” on themselves and free the government from a range functions that it had to take upon in recent years.
Dosayev said that while the banking sector remains the main source of funding and financing, alternative financing options, including the stock market, are also necessary, and Kazakhstan needs to work more on that.
The official further said that loans should become the key to mass entrepreneurship.
Overall, Dosayev positively assessed the work on recovery of the local banks, carried out by the National Bank of Kazakhstan.