Business needs more than just short term money

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Mazhilismen are concerned about the prospects of supply of banks with long term liquidity

The deficit of tenge liquidity, and, above all, the available credit in the national currency was the basis of the deputy request of the parliamentary faction of the party "Ak Zhol" in the address of Prime Minister Karim Massimov and the Chairman of the National Bank Daniyar Akishev.

And Mazhilismen emphasize that some categories of loans, the interest rate is so high that makes any industrial activity unprofitable and pushes business away from the real sector, and deal only with the resale of the goods".

"Experts make suggestions that the liquidity limits are designed to counteract the devaluation. There is certain logic in it, of course, if to cancel the circulation of money, then there will be no devaluation", - said MPS with irony in a query, noting that in this case, you can then forget about “industrialization” and new business projects".

In addition, the MPs believe that the banks had "short" term tenge liquidity not due to changes in the banking system, but thanks to the huge financial and regulatory support provided by the state".

"But short-term liquidity does not provide investment loans and development of industrial projects in the industrialization and diversification of the economy", - states the request.

Mazhilismen offered to heads of Government and the National Bank to inform about plans to ensure the long liquidity in the credit market. It is important in this case, whether "the task of lending to reduce the cost to the economy and to reduce the base rate of the National Bank”.

Deputies are also interested in "what steps are willing to take the Government and the National Bank for decision-making on the reform of the banking and financial system that is adequate to the new economic reality".

"And do not rely so much on state aid, but rather on internal resources and improving the efficiency of the banks and financial institutions", - stated the request.