ASTANA (CIHAN)- The devaluation of the Kazakh currency the tenge, is related to processes in the world, the country's Finance Minister
"This measure is a result of the processes that take place in the world, particularly in neighbouring
An analysis was conducted that showed the devaluation will affect the revenue of Kazakh exporters, according to the minister.
Sultanov believes that receipt of the tenge to the state budget will increase, but there will also be expenditures for payment in currency for
The devaluation will affect the increase of prices for many goods including food products as there is an increase of prices for import products, according to Sultanov.
"We believe that the impact of devaluation on the price hike for products will be kept within seven to eight percent," the minister said.
At the same time this will not affect the budget and social payments, according to the minister.
Sultanov recalled that the devaluation conducted in the country in 2009 didn't have a serious impact on the price hike for goods.
Translated by L.Z.
Edited by S.M.
The official rate of the
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