Macroeconomic stability in Kazakhstan will contribute to curbing inflation in the range of 6-8%

Astana. December 25. Silkroadnews - Macroeconomic stability in Kazakhstan will be provided in particular by curbing inflation in the planned corridor of 6-8%, according to a joint statement by the government and the National Bank of Kazakhstan on the main directions of economic policy for 2015.
Thus, macroeconomic stability will be achieved by coordinated monetary and fiscal policy and curb inflation in the planned corridor of 6-8%.
Monetary policy will provide a basis for the transition to inflation targeting in the medium term. Inflation targeting will increase the real yield savings in tenge and lower inflation expectations. Regulation of the money supply will be in correlation with inflation.
Monetary policy will aim at ensuring a balance between internal and external competitiveness of Kazakhstan's economy. At the same time will not be tolerated sharp exchange rate fluctuations tenge. Measures will be taken to limit speculation in the foreign exchange market.
In 2015, the National Bank jointly with the Government will make changes in the law in regard to increasing performance requirements of exchange points for cash foreign exchange market.
Policy will continue to maintain an adequate level of international reserves of the National Bank, including through the prevention of decline in foreign exchange reserves of the National Bank of less than 3 months of imports of goods and services.
Notes that fiscal policy will be aimed at balancing the budget in accordance with the concept of the new fiscal policy.
It is also noted that the formation of the main approaches of fiscal policy is the definition of budget expenditures within the fiscal constraints on the deficit, a phased increase in government obligations, avoiding substitution of private sector investment budget investments.
In order to reduce the load on the republican budget for financing infrastructure projects for co-financing will be involved in external loans from international financial institutions and mechanisms used by public-private partnerships.