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Situation with inflation in Kazakhstan - most controlled among CIS states- Saydenov

21.05.2008, 15:07 2493

Astana. May 21. Kazakhstan Today - The situation with inflation in Kazakhstan - most controlled among CIS countries. The chairman of the National Bank of Kazakhstan Anvar Saydenov informed at the meeting of the State Commission for Economy Modernization on Monday, the agency reports.

"We conducted monitoring of the situation both in CIS states and in the countries of Eastern and Central Europe. We can say that inflation in Kazakhstan compared to other CIS states is the most controlled, as the indexes of inflation for three months have been the lowest of all CIS countries in the first quarter of 2008," A. Saydenov said.

The Minister for Economy and Budgetary Planning Bakhyt Sultanov supported A. Saydenov reminding that level of inflation in Kazakhstan in January - March of 2008 has been 2.5%. "It is significantly lower than in some countries with similar economic structure. In Latvia and Bulgaria level of inflation for the first quarter of 2008 was 5.7 and 3.5% accordingly .... and compared to other CIS countries inflation in Kazakhstan is one of the lowest," the Minister of Economy and Budgetary Planning informed.

In Russia in March of 2008 up to December, 2007 inflation reached 4.8%, in Ukraine - 9.7%, in Azerbaijan - 8%, in Kyrgyzstan - 6.1%, in Belorussia and Moldova - 4.1%. Thus, according to A. Saydenov, "in Ukraine struggle against inflation was the first priority and the National Bank of Ukraine pursued a very strict monetary policy."

In addition, А. Saydenov considers that presently monetary factors in Kazakhstan are not determinative in formation of inflation level. "In this connection, role of central government and akimats in control of inflationary processes has become very important," he concluded.

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