Kazakh Minister urges to step up coal and diesel fuel uninterrupted supply efforts

ASTANA. KAZINFORM "Weakening of tenge will put pressure upon prices and rates," National Economy Minister of Kazakhstan Timur Suleimenov told a Government meeting.

"In view of high correlation between the prices and national currency at the current tenge rate the inflation rate may increase by one percentage point," the Minister added.

He also stressed that keeping in mind some weakening of tenge and seasonal inflation fluctuations the inflation rate following the results of 2018 is thought to be close to upper limit of the new corridor up to 6.6% - 6.8%.

"Taking into account that inflationary processes gain momentum in the fourth quarter, the local executive authorities should in due time replenish stabilization funds, step up efforts on uninterrupted supplies of coal and diesel fuel to the market with price survey," the Minister resumed.