BAKU, Azerbaijan, Jul.14
By Nargiz Sadikhova - Trend:
Kazakhstan’s National Bank will take measures in order to ensure economy resurrection, Trend reports with reference to the bank.
Firstly, it will take measures to pursue a monetary policy aimed at keeping inflation within the range of 8-8.5 percent in 2020.
“At the same time, taking measures is required to reduce dependence on imports by saturating markets with goods, optimizing supply chains and avoiding speculation, which will increase the effectiveness of the monetary policy implementation,” the report said.
Secondly the National Bank will participate in economic recovery based on previously adopted anti-crisis measures and new initiatives.
Together with the Government, the National Bank and the Agency for Regulation and Financial Market Development a package of additional measures to support industries in case of worsening socio-economic situation will be prepared before the end of July 2020.
Thirdly, financial market to development measures to maintain economic activity will be taken.
“In order to attract investors, work will continue to build a yield curve. To do so, government securities will be issued in 2020 and in 2021-2022. Corresponding changes have been made to the government securities issuance schedule on a regular basis till the end of 2020,” the report said.
This will also allow to continue the work on including Kazakhstan government securities at the international indices.
For the further development of the stock market, as an important source of attracting investment in the economy the problems and the reasons for its underdevelopment will be analyzed.
Based on the analysis results the comprehensive proposals will be prepared for further development of the stock market, including its integration with international capital markets using the potential and infrastructure of the Astana International Finance Center.
Fourthly, the measures to ensuring financial stability to prevent the accumulation of systemic risks will also be taken.
In order to reduce systemic risks, the agency, together with the National Bank, will prepare proposals for assessing the quality of assets (AQR) of the banking system on a periodic basis.
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