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Olzhas Khudaibergenov on currency interventions

Wednesday, September 16, the country’s Central Bank had to resort to currency interventions worth $114 million to sustain the tenge exchange rate.

Olzhas Khudaibergenov on currency interventions
©Turar Kazangapov
We learn to live without oil: Kazakhstan's Minister of Finance

Kazakhstan’s Minister of Finance Bakhyt Sultanov answered questions of foreign guests at the VII Astana Economic Forum concerning the measures Kazakhstan had been undertaking amidst unstable oil prices.

We learn to live without oil: Kazakhstan's Minister of Finance
Kairat Kelimbetov. Photo courtesy of ortcom.kz
Central Bank Governor on National Oil Fund

As of April 1, 2015 Kazakhstan’s international reserves stood at $98.8 billion, including $29.1 billion in gross gold and FX reserves of the Central Bank and $69.7 billion in assets of the National Oil Fund.

Central Bank Governor on National Oil Fund
Kairat Kelimbetov. Photo courtesy of ortcom.kz
Kazakhstan’s Central Bank Governor on tenge prospects

According to him, back in 2014 the country’ economy accumulated certain margin of safety. The country’s gold and FX reserves reached $102 billion, including $73 billion with the National Oil Fund.

Kazakhstan’s Central Bank Governor on tenge prospects
©REUTERS
Kazakhstan National Bank’s gold and FX reserves figure announced

Gold and FX reserves of the National Bank have grown by 15.8% since the start of the year.

Kazakhstan National Bank’s gold and FX reserves figure announced
©REUTERS
Money from National Fund to help out Kazakh economy

Experts talk about tasks set by Nazarbayev in his State-of-the-Nation Address and allocation of additional $3bln in the next three years.

Money from National Fund to help out Kazakh economy
Tengrinews.kz stock photo
$2.7 billion out of National Oil Fund to finance infrastructure projects

The time has come for us to rely on the funds to the benefit of the country’s people, protecting the nation from the imminent crisis: President Nazarbayev.

$2.7 billion out of National Oil Fund to finance infrastructure projects
RIA Novosti ©
Annual $3 billion to be allocated out of National Oil Fund to bolster nation’s wellbeing

Amidst the global economic conditions, without some extra injections into the national economy it will be hard to reach the set goals (…) the time has come to tap into the Fund’s assets, the President said.

Annual $3 billion to be allocated out of National Oil Fund to bolster nation’s wellbeing
© eff-com.ru
Kazakhstan’s international reserves figure announced

Kazakhstan’s international reserves, including the gold and FX reserves of the Central Bank and the assets of the National Oil Fund grew from $95.507 to $103.754 billion from January to July 2014.

Kazakhstan’s international reserves figure announced
© eff-com.ru
Kazakhstan announces its international reserves figure

The gold and FX reserves of the Central Bank grew by 7.1% to reach $26.471 billion from January to June 2014, with the assets of the National Oil Fund growing by 8.21% to reach $76.607 billion.

Kazakhstan announces its international reserves figure
Illustration a courtesy of Tengrinews
Asian Development Bank to co-finance projects funded out of the National Oil Fund

One of the sources to boost the country’s economy growth will be $5.5 billion out of the National Oil Fund to be allocated in 2014 and 2015, Minister of Economic Affairs Yerbolat Dossayev said April 14.

Asian Development Bank to co-finance projects funded out of the National Oil Fund
Minister of Economic Affairs Yerbolat Dossayev. Photo courtesy of ortcom.kz
$1.3 billion to finance Toxic Assets Fund of Kazakhstan

The vehicle will be buying out toxic assets from the country’s banks. Regulating rules will be formulated by July 1, 2014.

$1.3 billion to finance Toxic Assets Fund of Kazakhstan
© eff-com.ru
$2.7 billion out of Kazakhstan National Oil Fund to stimulate economy in 2014

One of the sources to boost the country’s economy growth will be $5.5 billion out of the National Oil Fund to be allocated in 2014 and 2015: Minister of Economic Affairs.

$2.7 billion out of Kazakhstan National Oil Fund to stimulate economy in 2014
© eff-com.ru
Kazakhstan’s international reserves figure announced

The gold and FX reserves of the National Bank for the period grew by 7.45% to reach $26.517 billion, with the assets of the National Oil Fund growing by 3.18% for the period to reach $72.787 billion.

Kazakhstan’s international reserves figure announced
© tengrinews.kz
NPLs growing in Kazakhstan regardless of measures to reduce the figure: Fitch Ratings

As of the end of 2013, the share of NPLs throughout the country’s banking sector stood at 31.2%. According to Fitch Ratings, in February the indicator grew to 33%.

NPLs growing in Kazakhstan regardless of measures to reduce the figure: Fitch Ratings
 Minister of Economy and Budget Planning Erbolat Dosayev. Photo a courtesy of tengrinews.kz
Kazakhstan Government increases reserve fund by $250 million after tenge devaluation

Amid adjustments of microeconomic indicators for the year 2014 the Kazakhstan Government has revised its budget.

Kazakhstan Government increases reserve fund by $250 million after tenge devaluation
© eff-com.ru
$1 billion to support small and middle-sized businesses in Kazakhstan

February 14 Kazakhstan’s President Nursultan Nazarbayev instructed his Cabinet to allocate $5.4 billion out of the National Oil Fund [accumulating oil windfall revenues] in 2014-2015 as “long money” for the country’s economy.

$1 billion to support small and middle-sized businesses in Kazakhstan
Illustration a courtesy of Tengrinews
Kazakhstan National Fund allocates $5.4 billion to support economy

After the devaluation of tenge by 19% earlier this week, the National Fund of Kazakhstan decided to allocate $5.4 billion to support local business.

Kazakhstan National Fund allocates $5.4 billion to support economy
Central Bank Governor Kairat Kelimbetov. ©pm.kz
Kazakhstan’s President meets Central Bank Governor

The country’s international reserves, including assets of the National Oil Fund [accumulating windfall oil revenues], increased by 7.4% since the start of the year, reaching $92.4 billion: Central Bank Governor.

Kazakhstan’s President meets Central Bank Governor
© eff-com.ru
Kazakhstan to start investing its National Oil Fund assets into its own economy starting from 2014

The annual transfer [to complement the country’s budget] from the National Oil Fund will make up about $9 billion.

Kazakhstan to start investing its National Oil Fund assets into its own economy starting from 2014