Marchenko reports to Nazarbayev on Macroeconomic Situation
Chairman of the National Bank of Kazakhstan, Grigory Marchenko, reported to the President of Kazakhstan, Nursultan Nazarbayev, on the macroeconomic situation in the country, Kazakhstan Today reports citing a presidential press release.
According to the press release, Marchenko reported to Nazarbayev on the National Bank’s steps to take control over inflationary processes and exchange rate policy.
"Inflation for the last 12 months has decreased by 8.5%. This is 2.5 times lower than last year. As a whole, trends continue to remain positive."
"The head of state noted the decision to devaluate the tenge was made duly and was correct," the press release reports.
"The president of Kazakhstan has requested to pay attention to measures we can undertake to restore trust in the banking sector and finance the new industrialization programs," Marchenko reported.