Emblem
Official Source of the
Prime Minister of the
Republic of Kazakhstan
Menu
Emblem
Close button

Measures taken to help maintain macroeconomic stability in Kazakhstan — Ruslan Dalenov

Tuesday, 10 March 2020, 14:12:46

At the press conference in the Government, the Minister of National Economy Ruslan Dalenov answered journalists' questions regarding the current state of macroeconomic, financial and social stability, as well as the forecast for the near future in the light of the external economic situation on the world market.

According to the minister, yesterday, on behalf of the Head of State, a rapid response headquarters was created to develop an anti-crisis action plan due to the deterioration of the economic situation in the world.

“The main economic instrument is the country's budget. Obviously, the budget will be specified. It is necessary to wait for the results of the first quarter. The direction of the budget is the prioritization of social spending and expenditures, which are aimed at supporting SMEs and employment. All social obligations of the state is a priority, all social obligations to our citizens will be fully implemented. Saving and creating jobs is a very important area. Today, it was entrusted to develop an Employment Roadmap, which will provide rural settlements with jobs and working infrastructure. These measures will help maintain macroeconomic stability,” said Dalenov.

As the minister noted, back in October 2019, the Head of State instructed to develop a set of measures to ensure macroeconomic, financial and social stability. In December 2019, the plan was adopted, approved by the Economic Policy Council, it envisaged scenarios for the development of the economy, the trigger of which was oil quotation.

“Today we are seeing a decline in oil quotes, today all actions of the Government are coordinated in accordance with this plan. Different oil producing countries have different methodologies, planned values, etc. In our country, from the middle of 2000, the methodology was changed, all revenues from the oil and gas sector are directly transferred to the National Fund, bypassing the budget, regardless of the price that has developed. From the National Fund annually 2.7 trillion tenge in a guaranteed manner go to the budget. Thus, the budget is protected from price changes. Today there is already an order to optimize costs. One of the sources of budget refinement is the transfer of a part of investment projects beyond the horizon of this year, many of the projects that have been started may not be started this year, as well as a number of other systemic measures,” explained Dalenov.

At the same time, the minister of national economy emphasized that prices for food and non-food products of domestic production will not be changed.

“Most of the food products are domestic — produced here, tied to local resources. Therefore, as a result of changes in the dollar to tenge, there should not be any changes. Other factors, of course, can affect food prices: seasonality, product barriers, lack of competition, collusion. But for those resources, for those products that are produced from internal resources, the influence of the external and dollar rates is limited,” the minister said.

As for non-food products, the rate may affect such products.

“Non-food products, including equipment, electronic equipment, pharmacy, where domestic production is absent or not up to standard, of course, the course will have an effect. But here we went through it in 2009 and 2016. First, there is a contracting institution in the field of pharmacy. A single distributor has already contracted the main products. As for electronics, global brands take into account the local component in advance that the price should correspond to the internal capabilities of demand. Therefore, for non-food products in the field of electronics, as a rule, prices for electronics remain in the same ranges,” the minister explained.


News feed
01 October 2020, 16:59
Government considers implementation of Plan of the Nation "100 Concrete Steps’’
30 September 2020, 18:46
Prime Minister Askar Mamin discusses implementation of investment projects in Kazakhstan with Chair of EDB Nikolai Podguzov
30 September 2020, 14:53
Accounts receivable of consumers to energy companies reached 17 billion tenge — Beibut Atamkulov
30 September 2020, 13:15
In Kazakhstan, 98.2 thousand packages of medicines and almost half a million medical masks withdrawn from illegal circulation — Ministry of Internal Affairs
30 September 2020, 12:22
Service for monitoring Internet quality by population launched in Kazakhstan
30 September 2020, 11:32
Ministry of Healthcare proposes to suspend resumption of additional flights with other countries from Oct. 5
30 September 2020, 10:59
Thirty-three Kazakh pharmaceutical companies produce 922 types of medicines — Ministry of Industry and Infrastructure Development
30 September 2020, 10:44
By the end of 2020, 99% of rural population to have broadband internet access — Askar Mamin
30 September 2020, 10:20
Over 4 thousand Kazakhstanis provided with free medicines — SK-Pharmacy LLP
30 September 2020, 10:17
Government considers readiness of regions for heating season
30 September 2020, 09:59
Mamin instructs to ensure 100% readiness of sanitary and epidemiological measures
29 September 2020, 10:54
Mechanical engineering, support for SMEs and industrial projects — how Kostanay region developed during pandemic
29 September 2020, 10:11
Government session to be held Sep. 30 in Ukimet Uyi
27 September 2020, 17:48
Prime Minister of Kazakhstan Askar Mamin and President of Tatarstan Rustam Minnikhanov launch three projects in automotive industry 
25 September 2020, 16:35
Reorientation to fish farming, improvement of legislation and measures of state support — how fish industry developed in Kazakhstan
24 September 2020, 17:38
Prime Minister Askar Mamin holds seminar on development of country's fishing industry in Shardara 
24 September 2020, 12:14
Arman Shakkaliyev relieved as chair of Committee for Technical Regulation and Metrology of Ministry of Trade and Integration
23 September 2020, 17:50
Baiterek Holding increases financial support of manufacturing sector by 17% 
23 September 2020, 14:43
Astana EXPO-2017 wind power station to reach full capacity of 100 MW by end of 2020
22 September 2020, 12:12
Harvesting in Kazakhstan completed by 93.4% — Ministry of Agriculture 
22 September 2020, 11:16
Sixty-five public organizations for protection of consumer rights operate in Kazakhstan — Ministry of Trade and Intergation
22 September 2020, 10:05
Head of Government gives several instructions to strengthen consumer protection 
22 September 2020, 10:02
Export potential of harvest in Kazakhstan to reach 7.5-8 million tons of grain in 2020
21 September 2020, 16:51
Government session to be held Sep. 22 in Ukimet Uyi 
21 September 2020, 12:54
Government considers issues of mass sports development 
18 September 2020, 18:26
Issues of preserving jobs and timely payment of wages discussed in Government of Kazakhstan
17 September 2020, 18:56
Prime Minister Askar Mamin meets with President of Turkmenistan Gurbanguly Berdimuhamedov
17 September 2020, 18:45
Government of Kazakhstan discusses issues of social protection of disabled people
16 September 2020, 18:09
Yerlan Kiyasov appointed Vice Minister of Healthcare - Chief State Sanitary Doctor of the Republic of Kazakhstan
15 September 2020, 12:26
Work underway in Kazakhstan to saturate domestic market with basic products for stabilizing prices — Ministry of Agriculture
15 September 2020, 10:27
Price increase for socially significant food products will not exceed 6% by the end of 2020 — Ministry of Trade and Integration
15 September 2020, 10:07
Prime Minister of Kazakhstan Askar Mamin instructs to ensure strict control over stability of prices for socially significant food products
15 September 2020, 09:44
Under Industrialization Map in Kazakhstan, 206 projects worth 1 trillion tenge to be introduced in 2020
15 September 2020, 09:29
For 8 months of 2020, 4.3 thousand new jobs created under Industrialization Map — Ministry of Industry and Infrastructure Development
14 September 2020, 22:47
Introduction of Industry 4.0 in Kazakhstan, or how smart factories worked during quarantine period and global pandemic
14 September 2020, 18:42
Interdepartmental Commission adopts decisions on work of businesses
14 September 2020, 14:02
Government session to be held Sep. 15 in Ukimet Uyi
14 September 2020, 10:51
Strategic directions for development of Eurasian Economic Integration until 2025 considered at session of EEC Council
11 September 2020, 13:07
Prime Minister Askar Mamin introduces Minister of Emergency Situations Yuri Ilyin
10 September 2020, 23:45
Distance learning, epidemiological situation, provision of villages with Internet — how educational process organized in Kazakhstan
10 September 2020, 13:12
Production of electronics industry of Kazakhstan to increase 8.5 times over 3 years
09 September 2020, 15:06
Roman Sklyar pays working visit to Atyrau region
09 September 2020, 11:59
Ministry of Healthcare on CVI: In Kazakhstan, there is a 6-fold decrease in bed occupancy
09 September 2020, 11:31
Food production for 8 months of 2020 increased by 3.6% — Ministry of Agriculture
09 September 2020, 11:21
Market of Kazakhstan fully provided with petroleum products of domestic production — Nogayev 
09 September 2020, 11:19
In Kazakhstan, total volume of container transit traffic increased by 37% — Ministry of Industry and Infrastructure Development
09 September 2020, 11:02
Measures taken stabilized epidemiological situation in the country — Prime Minister of Kazakhstan Askar Mamin 
09 September 2020, 10:54
Following results of 8 months of this year, positive dynamics remains in basic sectors of economy
09 September 2020, 10:53
Government adopts National Plan for Implementation of Address of the Head of State to People of Kazakhstan
09 September 2020, 10:25
604 loans issued under Economy of Simple Things Program — National Bank
© 2019 - 2020 Press service of the Prime Minister of the Republic of Kazakhstan.
Developed by SoftDeCo.