Financial system in Kazakhstan is sick — Tokayev

AKIPRESS.COM - Kazakhstan should urgently resolve the problems in banking sector, President of Kazakhstan Kassym-Jomart Tokayev said today at the extended session of the government.
The role of the banking sector in development of the economy of Kazakhstan is declining every year, which is an alarming trend, he noted.
"The fianancial sector is sick," he said.
More than 0.5 million of people in difficult life situation had their debts written off last year, he reminded.
The National Bank and teh Agency for Financial Market Regulation should take measures on prevention of such situations in future, Tokayev said.
The loans should be given to those, who can return them, he noted.
"Now the main task is providing financial stability," the head of state added.