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Central bank Governor Gregory Marchenko. Vladimir Dmitriyev ©
National Oil Fund’s average annual earning capacity stands at 4.51%

The Fund’s assets in 2011 and the H1 2012 grew by $20.8 billion: National Bank’s Governor Gregory Marchenko.

National Oil Fund’s average annual earning capacity stands at 4.51%
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Marchenko ready to buy foreign car at his own expense

Kazakhstan National Bank will attract Kazakhstan manufacturers for the next cars procurement tender.

Marchenko ready to buy foreign car at his own expense
 ©RIA Novosti
Economic uncertainty to last for at least another 9 months: National Bank Governor

According to him, speculations on a second possible wave of the global financial crisis will be persistent for at least another 9 months until the Bundestag election is over and Eurozone issues are resolved.

Economic uncertainty to last for at least another 9 months: National Bank Governor
Governor of the National Bank of Kazakhstan Gregory Marchenko. Photo by Yaroslav Radlovskiy©
Annual inflation rate may be below 6% at the end of 2012: National Bank Governor

He noted that the lowest inflation rate since 1999 is bolstered by a number of factors, including somewhat decreasing prices for foodstuffs and crude oil.

Annual inflation rate may be below 6% at the end of 2012: National Bank Governor
Marchenko believes fuel prices drop possible

Head of Kazakhstan National Bank believes that the fuel prices in Kazakhstan have to go down amid the global oil prices drop.

Marchenko believes fuel prices drop possible
Governor of the National Bank of Kazakhstan Gregory Marchenko. Photo by Yaroslav Radlovskiy©
Marchenko is against agricultural bank in Kazakhstan

National Bank's chairman Gregory Marchenko told the senators his opinion of the prospect of creation of the agricultural bank in Kazakhstan.

Marchenko is against agricultural bank in Kazakhstan
Chairman of Kazakhstan National Bank Gregory Marchenko. Photo by Yaroslav Radlovskiy©
Marchenko gave reasons for leveling retirement age

The retirement age should be leveled for men and women in Kazakhstan if for no other reason than because women of the older generation are more qualified and experienced: Marchenko.

Marchenko gave reasons for leveling retirement age
Gregory Marchenko. ©Vladimir Dmitriyev
Kazakhstan Central Bank may further slash its key rate to 5.25-5.5%

There is a clear signal that both cost of borrowed money and interest rates on loans should be lowered: Central Bank Governor.

Kazakhstan Central Bank may further slash its key rate to 5.25-5.5%
© Yaroslav Radlovsky
Kazakhstan slashes the share of Euro in its FX reserves

So far we don’t plan to further change the breakdown of currencies in the nation’s currency reserves: Central Bank Governor.

Kazakhstan slashes the share of Euro in its FX reserves
Central bank Governor Gregory Marchenko. Vladimir Dmitriyev ©
Volatility of the Russian rouble is not reflected on the Kazakh tenge

Besides, Kazakhstan may do pretty well with the oil prices standing in the range of $95-100 per barrel: Central Bank Governor.

Volatility of the Russian rouble is not reflected on the Kazakh tenge
Central bank Governor Gregory Marchenko. Vladimir Dmitriyev ©
Kazakhstan investments into the US economy stand at $41 billion: Central Bank Governor

US companies have directly invested into the Kazakh economy $22 billion, with the overall US investments into the Kazakh economy since Kazakhstan gained independence standing at $38 billion.

Kazakhstan investments into the US economy stand at $41 billion: Central Bank Governor
Central Bank Governor turns down suggestions of a single pension fund in Kazakhstan

Mr. Marchenko emphasized that Kazakhstan needs to think of public private partnerships to launch investment projects inside the country.

Central Bank Governor turns down suggestions of a single pension fund in Kazakhstan
Gregory Marchenko. ©Vladimir Dmitriyev
Customs Union may launch a common currency in 10-12 years: Central Bank Governor

According to him, it will take time for the Customs Union member states to work out common rules of the game.

Customs Union may launch a common currency in 10-12 years: Central Bank Governor
Central bank Governor Gregory Marchenko. Vladimir Dmitriyev ©
Central Bank Governor Gregory Marchenko in favor of raising retirement age for women

In an interview for KazTag Agency early March Gregory Marchenko said that “raising the retirement age for women up to 63 y.o. is an issue of gender equality.

Central Bank Governor Gregory Marchenko in favor of raising retirement age for women
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Central Bank Governor does not rule out the key rate may be further slashed in May

Earlier the Bank decided to set the key rate at 6.5% starting from April 1, which is the lowest rate ever.

Central Bank Governor does not rule out the key rate may be further slashed in May
Gregory Marchenko. ©Vladimir Dmitriyev
Stressed Assets Fund to buy out bad loans from banks starting from May

The vehicle will be used to buy out bad loans not related to the real estate market: Central Bank Governor.

Stressed Assets Fund to buy out bad loans from banks starting from May
Kashagan oil field. ©REUTERS
KazMunaiGas to issue bonds at the APR of 6% to finance Kashagan: Central Bank Governor

The National Oil Fund assets managed by the National Bank will be used to purchase the bonds.

KazMunaiGas to issue bonds at the APR of 6% to finance Kashagan: Central Bank Governor
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Marchenko told about Nazarbayev's instructions

BTA bank will continue into the second restructuring. Alliance Bank will be merged or sold to a strategic investor.

Marchenko told about Nazarbayev's instructions
Chairman of Kazakhstan National Bank Gregory Marchenko. Photo by Yaroslav Radlovskiy©
Annual inflation reached its 14-year lowest in Kazakhstan

12-month inflation rate in Kazakhstan has reached its 14-year minimum as of April 2012: Marchenko.

Annual inflation reached its 14-year lowest in Kazakhstan
Gregory Marchenko. ©Vladimir Dmitriyev
Central Bank Governor on the Tenge strengthening

The external conditions for Kazakhstan, a commodity exporter, are extremely favorable: Gregory Marchenko.

Central Bank Governor on the Tenge strengthening