Plan B for Kazakhstan’s economy
The Kazakh government has developed a Plan B for the country’s economy in case the COVID-19 pandemic drags on. The plan includes a package of urgent measures to support the population and businesses, and is also aimed at ensuring macroeconomic stability.
“The government, together with the National Bank of Kazakhstan and the Agency for Regulation and Development of the Financial Market of Kazakhstan, has developed a plan of joint actions in case of a deterioration of the socio-economic situation. The plan will come into effect, if there are triggers for this,” announced Asset Irgaliyev, Kazakh Minister of National Economy.
Minister Irgaliyev explained that the triggers include a new coronavirus outbreak, high oil price volatility and other unfavorable external factors. However, Irgaliyev did not specify the source of the funding as well as the amount involved.