No reasons for global concern over tenge adjustment, Astana Mayor

ASTANA. KAZINFORM Astana Mayor Imangali Tasmagambetov sees no reasons for global concern over the recent tenge rate adjustment in Kazakhstan.

"There are no reasons for global concern, undoubtedly, we will face some difficulties for some time, but I promise that we will overcome this stage, and it will certainly give a new impetus to the country's further development," Tasmagambetov said. He outlined the positive impacts of the exchange rate adjustment on the national economy. Decline in tenge will contribute to curbing import growth, revive gold reserves of the country. Besides, increase in exporters' income and public budget will let attract additional funds to the country's economy. "The goal of tenge rate adjustment is to reinvigorate the domestic market and encourage dometsic producers," the Mayor stressed.