Crucial to strengthen role of financial supervision - President

ANA. September 1. KAZINFORM. /Kanat Kulshmanov/ It is crucial to strengthen the role of the financial supervision in the concept of national financial architecture that is being developed today. Kazakh President Nursultan Nazarbayev has made it public at the Parliament's joint session today.

"The concept of national financial architecture is being elaborated in Kazakhstan. It will reflect the issues of complex improvement of legislation in the banking sphere, currency regulation and control. We will have to strengthen the role of financial supervision, change legislation on the issues of insurance, increase efficiency of budget legislation", N.Nazarbayev noted.

The President emphasized that the budget should become the main source of economic development.

"The country's financial system must be oriented at economy diversification, innovative industrial growth. It will be a main criterion of its evaluation", N. Nazarbayev resumed.