Kazakhstan PM Olzhas Bektenov orders steps to curb and reduce inflation

Kazakh Prime Minister Olzhas Bektenov has issued instructions to state bodies to curb and further reduce inflation. He spoke at a government meeting implementing President Kassym-Jomart Tokayev's Address, “Actual Tasks of Kazakhstan in a New Historical Cycle.”

Bektenov said systemic measures are needed and that “all opportunities for this exist.” The Ministry of National Economy, with the National Bank, must propose by 20 November measures to coordinate fiscal, budget and monetary policy to lower inflation and raise real incomes.

Akimats must monitor weekly how measures to stabilise food prices work. The Ministry of Trade and Integration, with regional akimats, will tighten control over maximum trade markups on socially significant foods. Within two weeks, trade, integration and agriculture ministries must build winter food reserves, activate stabilisation funds and expand direct supplies.