Kazakhstan has adopted an anti-crisis action plan for the 2016-2018

Almaty. December 8. Silkroadnews - The government of Kazakhstan has approved the anti-crisis plan of action for the 2016-2018 years, KazTAG reports.
"The first direction - is the stabilization of the financial sector. In the medium term, the main task of the National Bank and the Government is to reduce inflation to 6-8% in 2016-2017, 7.5% in 2018, 4.6% in 2019 and 3-4% in 2020",- said the Minister of the national economy of Kazakhstan Erbolat Dosayev voicing draft national action plan and the anti-crisis plan of the government and the National Bank to ensure economic and social stability in the years 2016-2018 at a cabinet meeting on Tuesday.
He noted that in April 2016 will be implemented in a flexible mechanism for changing the base interest rate, which will be focused on price stability and lower inflation. According to him, this will improve the operational efficiency of monetary policy and increase its impact on money market rates.
"In addition, to ensure the stability of the financial sector as a result of stress-testing of all subjects of the banking sector on the subject of non-performing loans before September 2016, are taken measures for their recognition and write-off", - said the head of the relevant departments.
Also, in order to increase the yield of pension savings to March 2016 will be revised approaches to the investment of pension assets, and up to July 2016 will be developed mechanisms for the transfer of pension fund assets under management of private Kazakhstani and foreign companies.
"In 2016, out of control of National Bank will be withdrawn ENPF Foundation of problem loans and other financial institutions. In order to de-dollarizate the economy, the National Bank jointly with the Government will adopt set of measures to de-dollarizate the economy and enhance the attractiveness of tenge instruments, including the development of the corporate securities market and to stimulate exchange trading financial instruments in tenge, the introduction of requirements for the establishment and pointing in advertising prices for goods and services, sold in the country, only in the national currency", - said E. Dosayev.
At the same time, he informed about other areas of anti-crisis plan, which relate to the optimization of fiscal policy, privatization and stimulation of economic competition, the foundations of the new investment policy, support for SMEs, as well as ensuring social stability and employment support.
"In order to support employment in 2016 will continue the implementation of regional comprehensive plans to promote employment and updated summary card layoffs and newly created jobs to the definition of staffing requirements. In March 2016 proposals will be made to provide more targeted assistance to needy families in the event of deterioration in the socio-economic situation in the country", - said the minister.
In conclusion, the head of the department said that the turnaround plan consists of two sections. This formation of a new structure of the economy within the framework of the 5 main areas identified by the President in Address to the Nation on November 30, 2015, as well as swift action to stimulate growth and lending to the economy.
"I think we have discussed all issues concerning the action plan on implementation of the President's instructions and the anti-crisis plan. In fact, this is one document that responds to the challenges that confront us. I ask members of the government to register. I stand to the vote. Accepted "- said Prime Minister Karim Masimov.