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Kazakh finance officials reported to President for 2009

ASTANA. 27.04.2010. KAZINFORM Head of the State Nursultan Nazarbayev has held a session where chairmen of the National Bank of Kazakhstan, Financial Supervision Agency and Agency on Regulation of Activities of the Regional Financial Center of Almaty city presented reports on their work in 2009; the Presidential press service told Kazinform. The President noted that a huge work was fulfilled last year. The major part of funds allocated by the National Fund for the support of priority economy sectors within the framework of antirecessionary measures was utilized. The financial system was stabilized. "We have succeeded in decreasing inflation and unemployment rates. What is the most important is that our economy continues to grow", N. Nazarbayev emphasized. After the debriefing the President welcomed the results of the activity of monetary and financial agencies and gave a number of instructions regarding further development of the country's financial sector and implementation of monetary policy. It was noted that successful post-crisis development of Kazakh economy and realization of a five-year industrialization plan would depend on the state's capability to mobilize all necessary financial resources and rationally apply them in the economy. The stock market development is another important factor for the formation of a new business environment involving the development of new productions. The financial system and regulation bodies should promote accelerated economic diversification. This is a key task for the financial bodies and Government of Kazakhstan. As a whole, the country's development in 2010 is progressing. As a result of the first quarter of the year the country's GDP increased by 6.6%, industry and trade - by 11.5 and 10.5 per cent respectively.


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