Suleimenov also provided an update on the economic and financial situation in Kazakhstan, business activity, inflation factors, as well as measures being taken to stabilize prices and achieve the medium-term inflation target of 5%.
Continuing the report, he stated that by the end of 2024, inflation had formed within the forecast range of the National Bank, amounting to 8.6%.
Then, as noted in the Akorda statement, he presented information on the status of the assets of the National Fund, gold and foreign exchange reserves, and the Unified Pension Fund (ENPF):
- In 2024, income from managing the National Fund's assets amounted to $4.5 billion, or over 7.5%;
- The gross gold and foreign exchange reserves of the National Bank reached $45.8 billion, increasing by 27.4%;
- The investment income from managing the pension assets of the ENPF totaled 3.4 trillion tenge, with returns exceeding inflation by more than two times, reaching 17.8%.
Additionally, he informed about the situation in the currency market and the measures being implemented to ensure the stability of the tenge.
In conclusion, he spoke about the stable situation in the banking sector, the continued sustainable growth of the deposit base, the measures being taken to ensure financial stability, and plans to enhance the effectiveness of macroprudential policy, as well as reported on the results of developing the National Digital Financial Infrastructure and the activities of the Anti-Fraud Center.
The head of state emphasized the importance of stabilizing inflation, continuing close coordination of the macroeconomic policy of the National Bank and the government, and set a number of tasks for the activities of the National Bank.
Earlier, Tokayev met with the chairperson of the board of JSC "Kazpost." Asel Zhanasova reported on the results of the company's activities for 2024, its financial situation, and promising areas for development.