National Bank Governor reports to President Nazarbayev

National Bank Governor Gregory Marchenko reported to President Nazarbayev on the financial sector, the President’s Press Service October 28. “For the last few days the national currency, the tenge, has been strengthening. The external environment is favorable for Kazakhstan. Prices for oil, grain and metals have been high. Should the situation remain as is, the upward trend will linger”, the Press Service quoted Mr. Marchenko as saying. National Bank Governor said that the banking sector has seen an upturn since May. “The lending has been on the rise. Deposits are growing, with deposits shifting from the US Dollar to the tenge. In general, both the macroeconomic situation and the situation in the country’s banking sector and in the currency market are positive”, Mr. Marchenko.