Devaluation of national currency necessary anti-crisis measure - Nazarbayev
ASTANA. February 12. KAZINFORM /Aigul Tulekbayeva/ Devaluation of the national currency is a painful, but necessary anti-crisis measure, Head of the State Nursultan Nazarbayev has said at the enlarged sitting of the Bureau of the Political Council of «Nur Otan» People’s Democratic Party today, Kazinform reports. According to the President, the USA, Russia and China have already taken such measures. Otherwise the real sector of the country’s economy would not be able to compete with the producers of foreign countries (Russia, Ukraine, China, and etc) which products became cheaper than ours by 30%. This would lead to bankruptcy of Kazakhstani commodity producers, reduction of working places and growth of unemployment. Besides, the tenge devaluation allowed to preserve monetary reserves of the country which will be used for other purposes.