ABLAI MYRZAKHMETOV: I HAVE NO REMEDY AGAINST PROBLEMS BUT LET'S DISCUSS THEM
The issues of expensive loans were discussed at the site of "Nur Otan"
Today, May 14, the first discussion within the framework of the NurOtanTrends project took part. The topic of the discussion was: "Why loans are expensive in Kazakhstan?"
The moderator, the director of the "Talap" Center for Applied Research, expert Rakhim Oshakbayev, opening the meeting, noted that in the current situation in the lending sector certain conclusions arise, the main one is the stagnation of lending. Earlier, at the beginning of last year, the Head of State noted that the National Bank should, together with the Government, be responsible for economic growth, but the issue of the so-called "double mandate" remains open until now.
"We want a clear dialogue with the National Bank. No populism. The rules of the game begin there. Microcredits are modern trend, credits were almost forgotten. And I think: economic growth should become a mandat, then we need to sit down and talk," - the Chairman of the Board of "Atameken" NCE RK Ablai Myrzakhmetov said.
According to him, it is necessary to sit down at the negotiating table and discuss macroeconomic issues. Business needs three key components: the rules of the game, access to money and the human resource. If the government deals with the rules, the entrepreneur attracts the human resource, and then the financial issue is left for the National Bank.
As explained by the Chairman of the Board of the NCE, the problem has not been solved for the last five or six years. Two years ago, the head of state said in one of his speeches that the National Bank should also be responsible. It turns out that the National Bank takes the responsibility to target inflation, which will lead to a tightening of tenge liquidity.
As it is known, for today the only option for obtaining affordable loans is government programs. The business is mainly subsidized by the Business Road Map 2020 and the State Program for the Development of the Agroindustrial Complex. The practice of microcrediting under the Program of Productive Employment and Mass Entrepreneurship is expanding.
"Many state programs have been implemented, but now the state's share in the economy is still large and the whole business is addicted to it. State programs should go to growth points - aggressive support for exports, that's where you need to spend money," - Ablai Myrzakhmetov noted.
Deputy Chairman of the Board of "ForteBank" JSC Adil Batyrbekov became the only representative of the banking sector, who took part in the discussion.
"Banking microeconomics is simple - the bank accepts deposits and issues them. Our banking margin is not large. Money lent at 8-9%, given under 14-15%. To solve the issue of cheapening, it is necessary to solve the problem of cheapening deposits. Why are deposits large? Because the stakes create such conditions. Why are stakes large? Because everyone is afraid of conversion in dollars," - Batyrbekov said.
The banker said that macroeconomic stability needs predictability in terms of inflation and exchange rates.
"I liked the thesis on macroeconomic stability. All the years the strongest side of the Kazakh economy, which allowed us to attract more investment than the countries of our league is macroeconomic stability and, most importantly - macroeconomic predictability. Now, in pursuit of various liberal cooperatives, we have lost macroeconomic predictability. It is impossible to predict what will happen by the end of the year, what the course will be like. Under conditions of uncertainty, economic agents are narrowing their business activity. Investors do not invest, so consumers do not consume. And this moves us to this kind of economic discussions," - Rakhim Oshakbayev summed up.
First deputy chairman of the "Nur Otan" party Maulen Ashimbayev summarized and promised to regularly gather experts on the platform to discuss important state issues. As a result of the event, recommendations will be drawn up which will be sent to the Government and the National Bank of the Republic of Kazakhstan.
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