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Tengrinews.kz - Vice Minister of National Economy Arman Kassenov was asked why VAT has not yet been increased, while prices have already risen.
"Inflation has been 2.6% for two months. Will we be able to meet the 9-10% promised by Minister Serik Zhumangarin by the end of the year?" journalists asked the Vice Minister during a briefing in the government.
According to Kassenov, the country's overall inflation trend is decreasing.
"In general, inflation does exist. However, I would like to note the following. The fact is that the inflation trend is negative. If we take last year, inflation was at 8.6%, in the previous year - at about 10%, before that - at 23%," Kassenov said.
According to him, the government and the National Bank continue to implement a set of anti-inflationary measures, including more than 100 events.
"The fact is that inflation is generally a global trend, and it is largely of a monetary nature. What is meant by it, in particular, let's say, it is largely influenced by the pace and volume of lending to the population, which, as you know, in Kazakhstan in the last three years has been at the level of 30% per annum," he noted.
The Vice Minister confirmed that inflation is expected to be at the level of 10 percent by the end of the year.
"That is, lending to the population is growing at a higher rate than nominal GDP (Gross Domestic Product - ed.), which generates additional demand. The successful implementation of this set of measures has led to inflation decreasing. By the end of the year, yes, we expect inflation to be about 10%," he concluded.
Earlier, the National Statistics Bureau published data on inflation in Kazakhstan.
