N. Nazarbayev says second devaluation will not happen
ALMATY. August 3. KAZINFORM /Daniyar Sikhimbayev/ As earlier reported President Nursultan Nazarbayev has heard a report of the National Bank's Chairman Grigory Marchenko in his Almaty residence today. Significant slowdown of inflation rate is the main result of the first half of 2009, the Head of the Bank said.
According to him, inflation in Kazakhstan has lowered from to 7.6% over twelve months (July 2008-July 2009). By August 1 this figure fell below 7%. This is two times lower against the last year index, he stressed.
"The second theme of our meeting was preliminary results of the devaluation. Today we assure ourselves that the corridor at the rate KZT 150 +/- KZT 5 per dollar was quite right. The state has enough reserves to preserve and protect this rate. The President confirmed there would be no second wave of devaluation", G. Marchenko said.