Kazakhstani Prime Minister believes banks funding in tenge is important for economy dedollarization

Date: 09:51, 26-11-2014.

Astana. November 26. KazTAG - One of the main issues for reduction of dollarization of Kazakhstani economy is provision of funding of second tier banks in tenge, said Prime Minister Karim Massimov.
"In order to conduct dedollarization of economy a big range of measures should be conducted. One of the main things, in my opinion is provision of the national banking system with financing in the national currency- tenge. If funding is provided in the national currency, crediting must be conducted in the national currency. This way, rate fluctuation will not much affect solution of these or those issues," said Massimov.
He added the most important thing for the Government is to keep savings of people in the pension system.
"The main thing is to pay back and multiply pension savings of Kazakhstani people," he added.
In his words, the Government of Kazakhstan supports transfer of the National Fund to the politics of inflation targeting in a mid term period.
In his words in the near future the Government will present to the President a variant of structural reforms.

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