On February 7, Prime Minister of Kazakhstan Alikhan Smailov held a government meeting to discuss the approaches to stabilizing domestic food prices, the press office of the Prime Minister reported.
Deputy Prime Minister, Minister of Trade and Integration Serik Zhumangarin, Minister of Agriculture Yerbol Karashukeev, Mangistau Region Akim Nurlan Nogaev, Ulytau Region Akim Berik Abdygaliuly and Astana Akim Zhenis Kasymbek presented the reports.
According to the reports, the inflation rate was higher than 1 percent in the first month of the year. The highest inflation rates are observed in Astana, Shymkent and Kyzylorda, North Kazakhstan, Aktobe and Ulytau Regions.
In January, food prices rose to their highest level in Mangistau Region (3.4%), Ulytau Region (2.8%) and Astana (2.5%).
With the aim of reducing price fluctuations in Kazakhstan, price stabilization instruments are used, revolving loans are issued directly to producers and food products are purchased during the harvest period and sold during the off-season.
“This year, the main task is to target an inflation rate below 9.5 percent, which is quite feasible if we work together to stabilize food prices in all the regions of the country,” Prime Minister Smailov emphasised.
Alikhan Smailov instructed to control prices and volumes of food products purchased and highlighted the need to sell products from the stabilization funds at retail outlets that must use POS terminals.
