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Head of State instructs National Bank, Accounts Committee to use all financial sources to support population

31 March 2020 22:00

NUR-SULTAN. KAZINFORM - The President of the Republic of Kazakhstan Kassym-Jomart Tokayev has instructed the National Bank to use the State Social Insurance Fund to support the population, Kazinform correspondent reports.

Head of State instructed the Government and the National Bank to use all the necessary sources of funds including the State Social Insurance Fund as well as resources and instruments of the National Bank to support the population.

«The funds of the National Fund, established by the First President of Kazakhstan-Elbasy Nursultan Nazarbayev should be used efficiently,» the Head of State said addressing the nation.

The President noted that one should not exclude the possibility of direct financing through state development institutions such as «Baiterek», «Agrarian Credit Corporation» and others in order to quickly and accurately bring funds to the real economy. «This mechanism, along with other preferences, should be aimed at supporting medium-sized export-oriented growth companies. These companies may act as our «locomotives» in the post-crisis period,» the President emphasized.

K. Tokayev instructed the Accounts Committee to ensure targeted and efficient use of allocated funds, adherence to the principles of openness and transparency in providing support to citizens and businesses. He noted that regional audit commissions and public councils should be involved in this work as well.