Tokayev meets with Chairman of National Bank of Kazakhstan Yerbolat Dossayev
During the meeting, the Head of State was presented with the preliminary outcomes of the monetary policy on January-May 2021, the data on the global business activity recovery, and transition of the central banks to a neutral monetary policy against rising inflation and inflation expectations.
The President has learned that the Kazakh economy is in the positive growth trajectory and about the prospects for its development in the present year, resumed activities of retail investors and non-residents on the government securities market.
Tokayev was informed that Kazakhstan’s gross international reserves has reached $95bn due to high gold prices, investment profits as a result of favorable foreign markets, and increased revenues of the national Fund for the first since September 2016.
Dossayev announced the main reasons for inflation acceleration to 7.2% in May this year and updated projections on the main macroeconomic indicators for 2021. His report also included the inflation on rising tenge deposits in the banking system and the implementation of the anti-crisis initiatives of the Head of State funded by the National Bank.
Following the meeting the Kazakh President gave a number of instructions.