National Bank chairman reports to President Nazarbayev

During the meeting Kairat Kelimbetov reported to the President on the state of the financial sector and the banking system of the country. President Nazarbayev noted that due to the deterioration of the budget, lower prices of all Kazakhstani export products, the National Bank's activity is of high importance. Chairman of the National Bank, in turn, said that in the period from January to June 2015 inflation reached 1.4%, while annual inflation equaled 3.9%. "This is the lowest index. That means that we have met the requirement of keeping inflation at the level of 3-4%. At the same time, gross international reserves of the National Bank amounted to $29 billion. In the first half of the current year deposits increased by 2.3%," said K. Kelimbetov. Following the meeting the President gave a number of specific instructions.