Measures required in context of transition to inflation targeting discussed at Government sitting

In particular, the measures on ensuring mid-term economic growth were discussed and the prompt actions of the Government and the National Bank in the context of transition to inflation targeting were approved, the press service of the Prime Minister informs.

According to Minister of National Economy Y. Dossayev, the prompt actions had five dimensions and were aimed at support of the economy in general and its sectors in particular.

According to the approved plan, the activity of the Government and the National Bank will be aimed at support of the real sector of the economy and motivation of private investments, employment and creation of jobs, sustainability of financial stability, efficient use of the funds allocated by the National Fund and ensuring of efficient disbursement of the national budget.

The minister stressed that under the conditions of limited financial resources, the work on optimization of financing of state and sectoral programs with redistribution of money to priority sectors would continue. "The adopted plan will also include the actions on prevention of price rise for food commodities, development of a mechanism of compensation of fixed deposits of individuals that were opened in tenge and holders of Zhilstroysberbank deposits," Y. Dossayev informed.

The plan also includes measures on support of industrial enterprises, socially vulnerable population and ensuring of employment.

The participants of the sitting also considered the measures on prevention of price rise for food commodities. These measures include regulation of threshold values for social food commodities, measures of antimonopoly regulation and prevention of unfair competition. Besides, the minister noted that local governors have to regularly organize agricultural fairs in the regions.

Upon completion of the sitting the Prime Minister of Kazakhstan gave a number of instruction to heads of ministries and state bodies.