Kazakhstan's international reserve up since early 2016

ASTANA. KAZINFORM - Since the beginning of the year international reserves of Kazakhstan has grown by 4.6% and totaled more than $95 billion, according to Minister of National Economy Kuandyk Bishimbayev.

"The international reserves has increased by 4.6% since the beginning of the year and amounted to $95.6 billion. The National Fund assets grew by 2.1% and reached $64.9 billion as of September 1, 2016," Minister Bishimbayev stated at the Government's hour at the Majilis, the lower chamber of the Kazakh Parliament on Monday.

According to the minister, the volume of loans increased by 0.5% and made 12.7 trillion tenge as of August 1. The volume of newly disbursed loans has grown by 7.8% and accounted for 5.4 trillion tenge over seven months of 2016.

Over the first seven months of 2016 Kazakhstan's external turnover has declined by 29.6% ($33.1 million). Exports fell by 30% and made $20 billion, meanwhile imports declined by 28.8% and hit the mark of $13.1 billion.

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