President Tokayev Briefed by National Bank Governor on Economic and Monetary Developments
Astana, The Gulf Observer: President Kassym-Jomart Tokayev on Tuesday received Governor of the National Bank of Kazakhstan Timur Suleimenov, who presented an extensive report on the country’s economic performance, financial system, and key monetary policy indicators for January–November 2025, Akorda reported. The meeting also covered strategic plans for 2026.
Suleimenov briefed the Head of State on business activity, inflationary pressures, and the measures being implemented to stabilise prices. He noted that the Government, the National Bank, and the Agency for Regulation and Development of the Financial Market have begun carrying out the 2026–2028 Joint Action Programme aimed at macroeconomic stabilisation and improving public well-being.
The National Bank Governor also delivered a detailed update on developments in the financial and currency markets, the public securities market, as well as the status of the National Fund’s assets, the Unified Accumulative Pension Fund (UAPF), and Kazakhstan’s gold and currency reserves.
According to Suleimenov, the National Fund’s foreign currency assets have increased by US$4.8 billion since the beginning of the year. Investment income reached approximately US$8.2 billion, reflecting growth of 13.7% over the reporting period.
Gold and currency reserves also saw strong expansion, rising by US$16.3 billion (+36%) to reach US$62.1 billion. Meanwhile, the UAPF’s pension asset portfolio increased by 2.6 trillion tenge, or 11.7%, reaching 25 trillion tenge since January.
Suleimenov further briefed President Tokayev on the National Bank’s large-scale digitalisation efforts, including the rollout of key digital projects, initiatives of the Anti-Fraud Center, and the technological development of the national digital financial infrastructure.
He emphasised that the National Bank is taking “all necessary measures” to stabilise prices and meet the medium-term inflation target of 5%.
President Tokayev issued several directives to the National Bank, stressing the importance of reducing inflation, ensuring the stable functioning of the financial market, and accelerating the digital transformation of the financial sector.
