Government to submit proposals on changing national economic policy for consideration of Parliament

ASTANA. KAZINFORM - The Government will submit proposals on changing the national economic policy for the consideration of the Parliament in September 2016, Prime Minister of Kazakhstan Karim Massimov told at the joint sitting of the Parliament Houses.

"I agree it is a critical situation for us due to transition to the flowing exchange rate because our foreign loans are in US dollars. Therefore, we will have to consider some issues including external borrowings, use of money from the National Fund, use and management of the Single Accumulated Pension Fund.  Besides, we will discuss the issues of compulsory medical insurance and reforming of the banking sector. I think we will submit proposals on changing the national economic policy for the consideration of the Parliament in September 2016. We need it in order to effectively use our resources for addressing the tasks the President sets and the economic situation requires," K. Massimov noted.

The Prime Minister also noted that it was necessary to find balance between development and external loans. However, cooperation with such international institutions as the World Bank, European Bank for Reconstruction and Development, Asian Development Bank and others help Kazakhstan not just to invest in the economy but in terms of conducting the structural reforms for increasing the competitiveness of the country.