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.
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.
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.
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.
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.
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.
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.
