OREANDA-NEWS. February 17, 2014. An extended meeting with the participation of the President of the Republic of Kazakhstan Nursultan Nazarbayev is held in Akorda. The meeting is attended by Prime Minister Serik Akhmetov, Cabinet members, the Chairman of the National Bank of Kairat Kelimbetov, heads of public organs, regional Akims, heads of national companies.

The tasks facing the government in 2014 in the context of the President's Address are discussed at the meeting.

Not to provide assistance to banks that do not reducing the volume of "bad" loans, President Nursultan Nazarbayev demanded at the cabinet meeting.

"We have been protecting those “private banks, private people” that would boast they were so big and rich each time. Where are they now? They are asking the government to help them with their arms outstretched: "Help to save our loans." Why were they crediting? Let them to reduce the level of assets and reduce the volumes of those "bad" loans," the President said.

The President stressed that if the state will not adhere to market principles in relation to private enterprises, then Kazakhstan will stay "with one foot in socialism and the other in capitalism."

The Government of Kazakhstan believes that an adjustment of the tenge rate will have a positive impact on increasing the competitiveness of domestic products and their manufacturers. This was stated by the Head of government Serik Akhmetov at an enlarged meeting in Akorda with participation of the President.

"At the same time, we understand that some domestic producers have difficulties. Basically those who import equipment and materials for the creation of new or upgrading of existing facilities out of proceeds of currency credit," S. Akhmetov said.

As the head of the Cabinet noted the Government will review the situation and take appropriate action. "As soon as possible the Government together with the National Bank will make proposals on adjusting macroeconomic parameters, socio-economic development forecasts, including possible clarification of the republican budget parameters for your consideration,” the Head of Government concluded.