Budgetary policy

Kazakhstan may respond adequately to changes in global economy

Kazakhstan06 August , 00:00

 "In terms of the pressures on the exchange rate of our national currency, it is important to understand that the international reserves of the National Bank. The reserves ensure the implementation of exchange rate policy and they are sufficient. The reserves were established and internationally recognized with standards for minimum volumes. Therefore, in general, we have an opportunity to respond appropriately in terms of exchange rate policy," B. Zhamishev said.
On the issue of fiscal policy, the minister said that "the deterioration in the export position is more important, it can affect the budget revenue. The main thing here is that the government debt should not become too large in order to be able to compensate and replenish the budget, without exceeding the size of government debt. Currently, the government debt is at low levels. Therefore, if the risks in the export occur, they will have consequences for our economy. If there will be the catastrophic decline in mineral prices, as a result, we can expect similar effects on the economy," B. Zhamishev said.