According to him, if there is a single pension fund managed directly by the Government or by the National Fund, there will be no deals closed with affiliated companies.
President made the decision to the benefit of the nation (…) and it will be brought to life, Central Bank Governor pledged.
According to Kazakhstan National Bank, the country’s inflation will stay within 6-8 percent, while the GDP growth may reach 6 percent.
Head of Kazakhstan’s National Bank says Kazakhstan businesses are poorly prepared to accept card payments because they don't want to install POS-terminals.
According to him, the Government and the Parliament will be responsible for any final decisions.
We have to admit the country’s pension system has faced a crisis. Peniosn funds are ineffective in managing the money. Inflation is eating the accumulations, a Majilisman believes.
At the meeting they dwelt on ways to expand lending through attracting fund from pension funds, insurance companies and foreign investors.
Besides adopting a resolution - Say no to raising retirement age! Fire Marchenko! - the protestors also target private pension funds in Kazakhstan.
We have submitted our suggestions to the previous Prime-Minister and Ministry of Labor and Social Protection: Marchenko.
According to him, people tend to overestimate their earning abilities.
According to him, speculations on the poor being supposedly able to participate in the Program are a sign of misunderstanding. The poor are not interested.
According to the Central Bank Governor, since the start of the year $2.2 billion has been channeled to fill the National Oil Fund.
Earlier Tengrinews.kz reported that Mr. Marchenko doesn’t support the World Bank’s suggestion on launching a single pension fund.
Global Finance magazine made a rating of the managers of Central Banks of 50 countries.
Late May the global oil price fell from $120 to $93 per barrel, which entailed weakening of the Russian rouble. Speculations were sparked that Kazakhstan would follow Russia’s example.
Mr. Marchenko elaborated that so far the National Bank has no plans to revisit the anticipated inflation corridor of 6-8% downwards for the following year.
According to Mr. Marchenko, the debt of the Government and the National Bank make up 4% of the overall debt figure, that is $5.2 billion.
The worst scenario envisages measures in case the oil price hits the bottom of $40 per barrel. The Government in partnership with the National Bank have developed respective action plans, incentives to support the economy: Gregory Marchenko.
In the H1 2012 Kazakhstan slashed its key rate three times: in February from 7.5% to 7%, in April from 7% to 6.5% and in June from 6.5% to 6%.
The country’s General Prosecutor’s Office is drafting amendments [before September 2012] into the national legislation to introduce liability for those starting or running Ponzi schemes.