Financial executives account President for Anti-Recessionary Program 2009-2011

The executives of the financial institutions gave an account of the course of the governmental anti-recessionary program for 2009-2011, on five sectors ? financial, construction, small and medium businesses, agro industry and innovation industrial development. USD 4 bln of the National Fund allocated to stabilize the financial system were transferred to the second-tier banks. Nursultan Nazarbayev urged to support domestic producers giving them priority when distributing government orders and enlarging Kazakhstan?s participation in joint projects with foreign companies. Vice Prime Minister Umirzak Shukeyev and Chairman of SamrukKazyna National Welfare Fund were commissioned to take personal control over this issue. President Nazarbayev also gave a number of tasks on preventing unemployment growth and job losses in local and foreign enterprises operating in Kazakhstan. Special attention was given to the support of agriculture. N. Nazarbayev appealed to provide agricultural manufacturers with working capital. In reply to the Government?s report on the results of solution of participatory construction issues, the President urged to boost the work in this direction. Also, he adviced to reduce the costs among local executive bodies and restrain from the activities and expenses related to different dates. N. Nazarbayev denied the rumors about further devaluation or denomination of the tenge and cancellation of certain banks? licenses alluding to the absence of any factors for such radical steps.