Government and National Bank develop crisis bailout package

NUR-SULTAN. KAZINFORM The Kazakh Government and National Bank proceeded straight away to implementing the joint action plan in order to respond to possible negative socioeconomic impact in Kazakhstan as a result of the events taking place in Ukraine, primeminister.kz reads.

The Government started the package of crisis response measures, while the National Bank takes steps to support the country’s financial stability. The plan is purposed to control over inflation and currency market stability, to support employment and generation of new jobs, boost entrepreneurship.

Up to KZT 200 bln will be allocated form the republican budget for the development of rural settlements, mono and small towns, suburbs of the Kazakh capital and cities of republican significance this year under the Auyl-el besigi program, complex development plans of the regions and other programs. The bulk of state support will be channeled for retooling and development of high-producing plants. Besides, projects aimed at raising productivity and deep processing of agricultural products will be prioritized.

The Government, National Bank and Atameken will realize the package of inflation control and disinflation measures in order to avoid price hikes.