February devaluation proved to be effective – Kazakh PM

ASTANA. August 18. KAZINFORM /Serik Sabekov/ As a result of well coordinated work of all state bodies we have avoided the worst scenario predicted at the beginning of the year, according to Prime Minister Karim Massimov.

He said the devaluation conducted by the National Bank in February has proved to be effective compared to other models introduced by neighboring countries. "If it had not been for the timely measures, the results of the economic development would have been quite opposite", - K. Massimov said.

He also added that the results showed trust of people and enterprises to the Kazakhstani banks.