Azernews.Az

By Aynur Karimova

Currently, Kazakhstan’s foreign exchange reserves exceed $28.9 billion, Head of the National Bank Kairat Kelimbetov said.

"People say that the country's gold reserves have reduced. But I want to emphasize once again that the reserves hit $24 billion in December 2014 amounting $28.9 billion in January 2015. As you can see, there is now a surplus of foreign exchange reserves," he noted.

The country’s foreign exchange reserves declined from $37 billion to $23 billion in 2011-2013.

"We suspended the declining trend,” he said. “At present, they hit $28.9 billion. Therefore, we believe that the National Bank is pursuing a right policy."

In January-December 2014, Kazakhstan's international reserves, including the gold reserves of the National Bank and the National Fund's assets increased by 7.3 percent to $102.481.

In the reported period, gross international reserves of the National Bank increased by 17 percent to $28.919 billion while the National Fund's assets rose by 3.91 percent to $73.662 billion.

Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

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