The President heard a report on the state of the economy, the financial system, and key areas of monetary policy in January-November 2025, as well as plans for 2026.
Kassym-Jomart Tokayev was briefed on business activity, inflation factors, and measures taken to stabilize prices. The government, the National Bank, and the Agency for Regulation and Development of the Financial Market have launched a Joint Action Program for Macroeconomic Stabilization and Improving the Welfare of the Population for 2026-2028.
The head of state was provided with information on the situation in the financial and foreign exchange markets, as well as the government securities market, the state of the assets of the National Fund, the Unified Accumulative Pension Fund, and gold and foreign exchange reserves.
Since the beginning of the year, the National Fund's foreign currency assets have grown by $4.8 billion. Investment income over the 11 months amounted to approximately $8.2 billion, or 13.7%. Meanwhile, gold and foreign exchange reserves over the same period increased by $16.3 billion, or 36%, to $62.1 billion. The ENPF pension asset portfolio has increased by 2.6 trillion tenge, or 11.7%, to 25 trillion tenge since the beginning of the year.
In addition, Kassym-Jomart Tokayev was briefed on the progress of large-scale digitalization and the National Bank's implementation of digital projects, including those related to the Anti-Fraud Center and the technological implementation of the national digital financial infrastructure.
According to Timur Suleimenov, the National Bank is taking all necessary measures to stabilize prices and achieve the medium-term inflation target of 5%.
Following the meeting, the President set a number of objectives for the National Bank's future operations, emphasizing the importance of reducing inflation, ensuring the stable functioning of the financial market, and digital transformation of the sector.
By the Kazakhstanskaya Pravda
