Kazakhstan may lower refinancing rate down to 12-14% in year 2000

/IRBIS, Nov.19, 99/ - As REUTERS informs, head of the government Kasymjomart Tokaev in his speech in Shymkent said in year 2000 Kazakhstan might lower refinancing rate down to 12-14 percents from present 18 percents. He says the government with the National Bank intends to lower the refinancing rate down to 12-14 percents in year 2000. The government and the National Bank believes that the inflation in year 2000 will not exceed 9.0 percent against to 16 percent this year. Refinancing rate was reduced by the National Bank last week from 20 to 18 percent APR, precrisis level. "Reform of the national budget is the high priority task", said Tokaev. Without going into details the prime-minister said "the budget should be real" and that the budget 2001 would be the one to be reformed, not the budget 2000.