The main challenge is high inflation, says Kazakhstan’s President
President Kassym-Jomart Tokayev addressed the issue of rising inflation in Kazakhstan, Kazinform News Agency correspondent reports.
"Today the main challenge is high inflation, which erodes economic growth and household incomes. There is no ready-made solution to this problem. Many countries face it, but in our case it has taken on a particularly acute form. We must break out of this macroeconomic circle, overcome long-standing difficulties by drawing on best practices, and be prepared to take responsibility for unpopular measures," the President said during the traditional State-of-the-Nation Address.
He instructed the Government and the National Bank to work together on this issue.
"The Government and the National Bank must act as one team, given the complexity of the situation. This is a national task that requires unity. Now is not the time for a tug of war," Kassym-Jomart Tokayev said.
Earlier, Kazinform News Agency reported that President proposed to rename Asset Recovery Committee as Investors’ Rights Protection Committee.
