“The National Bank will assist in ensuring financial stability and development of the financial sector. On behalf of the head of state, the introduction of social wallet is planned in 2022 with further integration with the national commodity distribution system. The work on creation of the national payment system through the development of instant payments and organization of an interbank payment card system will be continued. This will reduce transaction costs for people and business, increase financial service affordability and expand competition in the financial market,” he informed.
According to Dossayev, it is planned to take liquidity regulation measures to improve the efficiency of monetary policy.
“Co-operative measures on development of the government securities market will contribute to the efficient use of liquidity in the market for economical needs. An effective liquidity fixation will prevent the flow of funds to the foreign exchange market reducing pressure on the exchange rate and inflation. In order to increase the countercyclical nature of fiscal policy, the government, together with the National Bank, will ensure the introduction of new budget regulations starting from 2022 that improve fiscal discipline and the economy's adaptability to external shocks,” he noted.
Source: https://lsm.kz/koshelek
Photos are from open sources.
