ASTANA — Kazakh President Kassym-Jomart Tokayev met with National Bank Governor Timur Suleimenov on Dec. 9 to review the state of the economy, financial system, and monetary policy performance in January-November, as well as the bank’s strategic plans for 2026.
Kassym-Jomart Tokayev met with National Bank Chair Timur Suleimenov. Photo credit: Akorda
Suleimenov provided a comprehensive report on business activity, inflationary factors, and policy measures to stabilize prices. He highlighted ongoing collaborative efforts between the government, the National Bank, and the Agency for Regulation and Development of the Financial Market through the 2026-2028 Macroeconomic Stabilization and Welfare Enhancement Program.
Suleimenov discussed the situation in the financial and currency markets, the government securities market, and the status of the National Fund, the Unified National Pension Fund, and Kazakhstan’s gold and foreign exchange reserves, Akorda reported.
Since the beginning of the year, the National Fund’s foreign assets have increased by $4.8 billion, while investment income for January-November reached approximately $8.2 billion, or 13.7%. Gold and foreign exchange reserves rose by $16.3 billion, or 36%, totaling $62.1 billion, and the pension asset portfolio grew by 2.6 trillion tenge (US$5 billion), or 11.7%, reaching 25 trillion tenge (US$48.9 billion).
Suleimenov also outlined progress on large-scale digitalization initiatives, including the Anti-Fraud Center’s activities and the development of the national digital financial infrastructure.
The National Bank continues to implement all necessary measures to stabilize prices and achieve the medium-term inflation target of 5%.
