Kazakh National Bank and Government to develop economy de-dollarizing program

ASTANA. KAZINFORM National Bank of Kazakhstan jointly with the Government plans to develop a program of de-dollarization of the economy, Chairman of the National Bank of Kazakhstan Kairat Kelimbetov told a briefing in the Central Communications Service on Wed.
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According to him, the Kazakhstanis have a "highly dollarized consciousness". For proof he cited the statistical data that 45% of the population holds their savings in a foreign currency.

"In Russia if you ask how much an apartment costs, you will get an answer in rubles. Although we get salaries in tenge, pay taxes in tenge, do costs in tenge, we always keep it all in mind in dollars," he said.According to Kelimbetov, dollarization of the economy will decline in the course of development of domestic production, primeminister.kz reports.

The head of the National Bank urged the population not to convert their bank savings in the national currency, because, as he says, "tenge deposits are more profitable today than the dollar ones."

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