Kazakh President Kassym-Jomart Tokayev has held a meeting in Akorda for discussing the National Bank’s 2022 annual report, El.kz cites Akorda .
Those attending the meeting were Governor of the National Bank Galymzhan Pirmatov, First Deputy Chief of the President’s Executive Office Timur Suleimenov, Deputy Prime Minister – Minister of Finance Yerulan Zhamaubaev, Chairman of the Agency for Development and Regulation of the Financial Market Madina Abylkassymova, and Minister of National Economy Alibek Kuantyrov.
Kassym-Jomart Tokayev was reported about the results of implementation of the monetary policy for 2020, the measures of ensuring financial stability and the state of the National Bank’s gold and currency reserves as well as the National Fund’s assets
The President was informed that dollarization in 2022 reduced to 31.6%. The volume of loans extended by the second-tier banks rose by 23.3% and reached 22.8 trillion tenge, including 9.6 trillion tenge of business loans (+13.9%).
According to the National Bank, gross international reserves in 2022 went up by $1.2 billion and made $90.8 billion, including $35.1 billion of gold and currency reserves and $55.1 billion of the National Bank assets. The return on pension assets of the Unified National Pension Fund since the consolidation in 2014 amounted to 9.33% in annual terms.
Fitch Ratings and S&P Global Ratings confirmed Kazakhstan's sovereign rating at BBB with a stable outlook, the report reads.
The Head of State noted that inflation, macroeconomic and energy instability remained the main problems of the economy.
«The international organizations predict a significant slowdown in global growth from 6.2% in 2021 to 3.4% according to the IMF and increased cost pressure. All this affects the economic development of our country and indicates the need for more coordinated and efficient work of the Government, the National Bank and other governmental structures,» Tokayev stressed.
Following the discussion, the President approved the National Bank’s annual report.