The rate of tenge toward the Russian rouble is not adequate - the Ministry of Economy of Kazakhstan

/IRBIS, Nov.07, 99/ - According to REUTERS, which sites Zhaksybek Kulekeev, the minister of economy, Kazakhstan has not reached an adequate exchange rate of tenge towards the Russian rouble. The negative trade balance with Russia testifies to that. Russia is the main trade partner of Kazakhstan. In results of 9 previous months, export to Russia has made 18.3% from the total volume, import - 37.2%. According to the Statistics Agency of Kazakhstan, the trade balance with the CIS countries for 9 months of 1999 is minus $714.5 million compared to minus $725.3 million in 1998. At that the trade balance of Kazakhstan with the non CIS countries is plus $645.3 million. "The present tenge strengthening is not favorable for the Kazakhstan's exporters... We want to achieve a positive foreign trade balance in the next year and it will depend on the exchange rate policy," - the minister has told.