Nursultan Nazarbayev: "It is crucial that tenge is more important than a dollar in the country!"
The President of Kazakhstan called on the nation to live and to use the national currency
The situation in the economy and in the monetary and financial market were the main topics of performance of the leader of the nation "Nur Otan" - the President of the Republic of Kazakhstan Nursultan Nazarbayev at the XVII Congress of the Party. "The world today is undergoing complex and controversial stage of development. We all can observe it", - said the head of state, proposing to "recall the history".
"South East crisis began in 1997, and in 1998 the world experienced the effects of the Asian crisis. If you recall, a barrel of oil in 1998 was 8.5 US dollars. After a decade of continued growth it was 130 US dollars per barrel. In a decade the world experienced another surge, which may be approaching the end", - said Nursultan Nazarbayev.
"We just need to remember that we live for six months at a price of 30 dollars per barrel. But nothing has happened. I think we will overcome it ", - added the head of state.
Nursultan Nazarbayev said what scenarios would occur if Kazakhstan did not give up the endless support of tenge exchange rate at the expense of the National Fund.
"The financial system would have collapsed, the production facilities would have been closed, because exporters would get no profit, they will unable to pay wages, to maintain production, small businesses would have gone bankrupt, unemployment rate would have increased, as well as an inflation. Would Kazakhstani residents become richer? No!", - said Nursultan Nazarbayev.
"In theory, I can take a decision without a parliament and make one dollar equal to one tenge. It can be done. It was like that long time ago", - he said. He cited an example from the history of the Soviet era, "when officially one ruble was worth only 45 cents". "Not even a dollar! But it was a totally tightly closed steel wall in the country, which was engaged in subsistence farming. Remember how it was when private entrepreneurs? Zero. There was no concept of private property. Therefore, manufacturers do not have the right to enter foreign markets ", - said Nursultan Nazarbayev.
"The truth of the market of science is that the more we adjust the rate of the national currency, the more we create barriers for entrepreneurs and businesses. We must explain it to people why does it happen in a plain language", - called on the President. He asked the Chamber "Atameken" to clarify the situation to people "through small and medium businesses".
"If we want to move away from all that, it is important to use tenge in the country rather than a dollar! We need to live on tenge, to buy in tenge, to calculated in tenge", - summed up the head of state.
Zhanar Serdalina
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