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Kazakhstan reached stabilization in financial system - President

ASTANA. September 1. KAZINFORM /Kanat Kulshmanov/ Kazakhstan has reached stabilization in the financial system; President N. Nazarbayev announced it today at the joint sitting of the Kazakh Parliament. "The volume of investments into the Kazakhstan's economy has grown by 7% during 7 months against the same period of last year", he said. According to the President, the policy-based lending is stable. N. Nazarbayev pointed out the decline in inflation. As of August, 1 the total assets of the bank exceeded KZT 12 trillion having increased by 2 per cent against last year. The loan portfolio has grown by 10.6 per cent during the first half year, the Head of the State said. "The international reserves of the country stabilized at the level of USD 42.5 bln. Refunding of mortgage loans is continued. Our entrepreneurs received significant support", - N. Nazarbayev said. According to him small and medium enterprises used KZT 134 bln whereas 2.5 thousand enterprises were covered by the program as a whole and about 47 000 thousand jobs were created.


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