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Nazarbayev charged National Bank to strengthen work on inflation restraint and maintenance of financial stability

Astana. April 25. Kazakhstan Today - The President of Kazakhstan Nursultan Nazarbayev charged the National Bank of Kazakhstan to strengthen work on restraint of inflation and maintenance of financial stability. The leader of the state stated on Thursday during the meeting devoted to the reports of the National Bank, the Agency on Regulation and Supervision of the Financial Market and Financial Organizations and the Agency on regulation of the activities of Almaty Regional Financial Center for 2007, the agency reports referring to the president's press service. "The President noted the necessity of strengthening the work of the National Bank on restraint of inflation and designated this problem as one of the most important, alongside with maintenance of financial stability in the country," the press release informs. The chairman of the bank Anvar Saydenov "reported on the results of the work of the National Bank for 2007." As a whole, as he said, "despite of complexities arisen in the second half of 2007, Kazakhstan bank and as a whole the financial system has successfully overcome instability in the world markets," the message emphasized. Speaking about rise in prices, the chairman of the National Bank noted that the essential factor of inflation last year "became conjuncture in the world markets of foodstuff, energy carriers, as well as a number of monetary factors." Thus, according to A. Saydenov, "in the first quarter of 2008 rates of rise in prices have decreased ".

Resourse: Kazakhstan Today

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