Kazakh Minister of National Economy Alibek Kuantyrov predicts tenge exchange rate for next three years

Kazakh Minister of National Economy Alibek Kuantyrov at a government briefing forecasted exchange tenge rate for the next three years. As for him, the government of Kazakhstan in the three-year budget sets the dollar exchange rate at the level of 460 tenge, while the current rate is 480 tenge, El.kz reports.

Kuantyrov stressed that the current exchange rate of 480 tenge is temporary and may decline in the near future.

"The average exchange rate since the beginning of the year was 469 tenge. We expect stable exchange rate," he said.

The minister recalled that last year the exchange rate fluctuated, reaching 500 tenge and above, but subsequently stabilized.

Kuantyrov pointed out that the tenge floats freely, and the exchange rate included in the budget is at more conservative levels.

"This gives appropriate signals to investors and the population about the stability of the exchange rate. It can be either lower or slightly higher. On average, it should be 460 tenge," the minister added.

This forecast reflects the government's expectations regarding the further stabilization of the national currency and provides important benchmarks for the country's economic agents.