Tokayev receives Chairman of National Bank of Kazakhstan

Head of State Kassym-Jomart Tokayev has received Chairman of the National Bank Timur Suleimenov, El.kz reports citing Akorda.

The Head of State heard a report on the results of the implementation of monetary policy by the National Bank in 2024 and its plans for 2025 as well as was informed in the situation in the economy and financial system of Kazakhstan, business activity, inflation factors, measures taken to stabilize prices and achieve the medium-term inflation target of 5%.

Kassym-Jomart Tokayev was informed that by the end of 2024, inflation in Kazakhstan rose to 8.6%, forming within the forecast range of 8-9% for 2024, National Fund assets grew to $4.5 billion. Bank’s gold and foreign exchange reserves reached $45.8 billion, an increase of 27.4%. Investment income from managing the pension assets of the Unified Accumulation Pension Fund totaled 3.4 trillion tenge, exceeding inflation by more than twice and reached 17.8%.

The President was informed about the situation in the foreign exchange market and the measures being taken to ensure the stability of the tenge.

Timur Suleimenov also briefed about the situation in the banking sector, the measures taken to ensure financial stability and plans to improve the effectiveness of macroprudential policy.

Kassym-Jomart Tokayev was also informed about the results of the development of the National Digital Financial Infrastructure and the activities of the Anti-Fraud Center.

Following the meeting, the Head of State stressed the importance of stabilizing inflation, continuing close coordination of the macroeconomic policy of the National Bank and the Government, and also set a number of tasks for the activities of the National Bank.

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