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№2 (235) 28 January - 10 February 2009

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He flew away but promised to return?
Public is still hesitating. It doesn't know how to react to the appointment of Grigoriy Marchenko to the post of the head of the national bank. This news hit headlines. If it were not for harsh economic environment Kazakhstan has to operate in now, people would remain indifferent to the cabinet reshuffling. Marchenko has a reputation of the skilled financier and he held aforementioned job between 1991-2004. Kazakh society is deeply concerned about its future. What financial strategy will choose the National Bank? What monetary policies the government will elaborate to respond the crisis. What fate might befall tenge?
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Subtle tuning
The government has to revise its forecast and plans for the future. New polices are due to be shaped. The state has to respond the crisis in a different way, as new threats ,facing the domestic economy are really grave. New problems have arisen due to devaluation of the national currencies of the CIS states, the variety of cheap goods that flooded local markets and fall in budget revenues caused by the lower world prices for raw materials, scarce money supply. In other words the government should get ready to a subtle economic tuning.

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