Gross international reserves overcome historical milestone of $ 101 billion

"Gross international reserves of the National Bank and the Government for the first time ever exceeded historical figure of USD 101 billion. As you remember, the President said that our total international reserves should exceed USD 100 billion. Moreover, in the first quarter we have current account surplus, which amounted to USD 5.5 billion. For example, last year we had a USD 118 million current account deficit. That is, the economy shows positive response to the currency adjustment", said K.Kelimbetov. He also noted that inflation in April was 0.6%, in the first quarter it was 3.3 %. Thus, the inflation rate is 3.9% for four months of the current year. "Last year, it was 4.8% during the same period. In general, we believe that, aside from a certain spurt in inflation in February we return to the normal rate of inflation and expect inflation in 2014 in the range of 6-8 %", K.Kelimbetov concluded.