Kazakh President receives Chairman of National Bank Yerbolat Dossayev
8 November 2021 18:09

Kazakh President receives Chairman of National Bank Yerbolat Dossayev

NUR-SULTAN. KAZINFORM – President of Kazakhstan Kassym-Jomart Tokayev received Chairman of the National Bank of Kazakhstan Yerbolat Dossayev, Kazinform cites the press service of Akorda.

The Kazakh Head of State heard the preliminary outcomes of the implementation of the monetary policy for 10 months of the current year, growing inflation pressure and food prices in the world.

During the meeting, the IMF outlook on inflation stabilization and outflow of capital from developing markets due to the transition of developed countries from accommodative monetary policies to neutral ones.

The President was briefed on the implementation of his tasks – the implementation of a complex of anti-inflation measures on keeping annual inflation at the level of 8.9% in October against the slight slowdown in the growth of food prices caried out with the Government.

Tokayev was presented the preliminary assessment of balance of payments for nine months of the present year, according to which the deficit level dropped to $3bn due to better trade balance. Further improvement in the balance of payments is impeded by growing import consumption.

The Head of State was informed about the growth in international reserves thanks to growing prices for gold and recovery of investment revenues of the National Fund to $2bn (3.44%) since the beginning of the year.

According to the National Bank, there has been increases in pension assets and increased investment income due to the diversification of the UAPF portfolio.

During the meeting, Dossayev stated the readiness for a pilot launch of the National Payment System in line with the tasks of the Head of State.

In conclusion, the President gave a number of instructions.