Introducing nat'l currency a major factor in success of Kazakhstan's financial system - Kelimbetov

"During the short period our national currency has repeatedly been subjected to a severe test. Despite this our economic model each time proved its creditworthiness", said the head of the National Bank. According to him, the significant progress in transformation of the economy and the financial system has been achieved thanks to a successful policy, which is pursued under the leadership of President Nursultan Nazarbayev.

It was reported that since the beginning of the current year international reserves of the country, including the National Fund assets in foreign currency (preliminary 68.7 billion U.S. dollars), have been up by 7.3 %, i.e. to 92.4 billion dollars. Steady growth of the deposit base of banks is continuing, which indicates a high level of public trust and businesses in the banking system. The main objective of the National Bank in the future will be to ensure price stability, and thus maintaining the value of the national currency for our population. At the moment, the annual inflation rate fell to 4.9 %, and this is the lowest value for some time past. Inflation by the end of the year will make less than 6%, said K.Kelimbetov.