01.04.2013, 14:12 5255

President instructed National Bank and the Government to intensify efforts to create CES

The meeting was attended by the head of the Presidential Administration, Karim Masimov, the chairman of the National Bank Grigory Marchenko, the deputy Prime Minister Kairat Kelimbetov and deputy head of the Presidential Administration Bakhyt Sultanov

Astana. April 1. Kazakhstan Today - President Nursultan Nazarbayev held a meeting on Friday in Almaty residence, where the report of the National Bank of the Republic of Kazakhstan for 2012 was reviewed, Kazakhstan Today reports.

The meeting was attended by the head of the Presidential Administration, Karim Masimov, the chairman of the National Bank Grigory Marchenko, the deputy Prime Minister Kairat Kelimbetov and deputy head of the Presidential Administration Bakhyt Sultanov, the Presidential press service informed.

"Considering the traditional annual report on the activities of the National Bank, we can see that today, all the macroeconomic indicators of the country are normal. In situation of the world's financial unsteadiness the growth by 6 can be considered optimal. Inflation is not out of range, the national currency has been stable, and the crediting of the economy and the capitalization of banks are increasing," said the Head of state.

Nursultan Nazarbayev also noted that, despite this, there are a number of issues on which decisions must be made accordingly.

"The steady growth of the economy remains a major challenge. The Government and the National Bank should work to ensure that economic growth is not declining, and it requires coordinated proposals. Moreover, we have to improve the pension system, in particular, the creation of a single pension fund," underlined the president of Kazakhstan.

Marchenko said that by the end of 2012 the main macroeconomic indicators are positive.

"So, if we talk about the performance of the banking sector, the bank loans were up 13% for the two years of their overall growth rate of 29%, while in Europe the level of loans has not grown, in the U.S. it fell by 10%, in the UK - by 5%. In addition, deposits grew by 23.8%, insurance premiums - by 20.5%, the assets of pension funds increased by 20.2%," said the Head of the National Bank.

During the meeting Marchenko reported on the activities of the National Bank to ensure price stability, a new transmission mechanism of monetary policy and further improving its instruments, international diversification of assets, and also talked about the issues of foreign borrowings of the regulated banks.

The President of Kazakhstan gave specific instructions on the need to keep inflation in the forecast corridor and further development of the financial sector. In addition, the President instructed the Government to develop proposals for a centralized service of payment cards based on a single operator, and to intensify efforts on the formation of the CES in the interests of Kazakhstan.

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