In 1999 money base of Kazakhstan has grown by 55% and has reached 126,2 billion tenges - National Bank

/IRBIS, Jan.11, 00/ - As it is informed in the press release of the National Bank of Kazakhstan devoted to a current situation in the financial market of republic, the growth in international reserves and internal assets of Kazakhstan in 1999 has caused extension of the money base. The redemption of pensions, allowances and other payments debts, made by the Ministry of finance in the end of 1999 has also increased the money base. During 1999 the money base has extended by 55% to 126.2 billion tenges. The National Bank underlines in the message that "the sharp increase of money base in the end of 1999 is explained also by influence of a seasonal factor, i.e. systematically repeating oscillations stipulated by features of Kazakhstani economic conditions". According to the press release, the seasonal factor especially important in the beginning and in the end of one year. In the end of the year the money aggregates are grow that is explained mainly by redemption of the pensions and other social payments debts, in the beginning of the next year money base and the cash in circulation decrease.