600 Tenge Per Dollar? Minister Comments

Vice Prime Minister and Minister of National Economy Nurlan Baibazarov answered at a government press conference whether the dollar exchange rate will rise to 600 tenge, Orda.kz reports.

He says the government has included 470 tenge per dollar as the average annual rate in the baseline scenario, but calculations also exist for 500 tenge.

Nurlan Baibazarov has no projections for 600 tenge.

We have not forecasted such a plan (600 tenge-dollar exchange rate - Ed) yet. In calculating the forecast indicators, we considered plan 'B' - this is 500. We do not calculate and do not plan to calculate at 600. Our task is to ensure investments in foreign currency within the framework of the projects and programs being implemented. These investments will go through our currency market, will be converted and will be spent in Kazakhstan to implement these projects,
 said Nurlan Baibazarov.

This is how the government seeks to stimulate currency inflow into the country.

Original Author: Zhadra Zhulmukhametova