3.2 Features of the anti-inflation policy of the National Bank of Kazakhstan

Integrated anti-inflationary policy of the Government of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan is aimed at:

- promote economic growth in the country mainly due to the increase in labor productivity ;

- stimulate growth of labor productivity in comparison with growth in real incomes ;

- observance of the enterprises-monopolists approved limits growth of prices for their goods and services;

- creating conditions to ensure the development of competition in the domestic markets of the country , particularly in the oil markets , grain, electricity , transport and communication services ;

- compliance with a given level of government deficits ;

- software level of the money supply that is compatible with the given parameters on inflation and economic growth .

In order to stabilize prices in the markets of strategic goods such as oil , grain, will introduce a mechanism of mandatory trafficking through commodity exchanges .

 National Bank of Kazakhstan intends to influence the size of the money supply by controlling the liquidity of the banking system.

 For further development of the financial sector will continue its program of development of the securities market of the Republic of Kazakhstan for 2010-2012 , aimed at addressing the major challenges to improve the securities market.

 In order to reduce the dependence of the national budget on the world prices , economic diversification and redistribution of oil revenues between the generations will be implemented the measures foreseen in the concept formation and use of the National Fund of the Republic of Kazakhstan in the medium term .

 Overcoming inflation remains one of the main tasks of the anti-crisis strategy. If its decision is necessary to consider the causes and consequences of inflation, who thus bear the brunt and losses , and the impact of measures developed by other elements of the anti-crisis strategy , primarily in production and employment . Reducing inflation to a relatively "safe" level (15-20 % per year , or 1.2 % per month) without reducing the production and falling living standards is possible only by increasing production efficiency and quality control . These objectives can be achieved in stages over time .

 In the first five years (2009 - 2013 gg.) Threat of inflation remains critically acute . The extent of its reduction to a decisive extent on the terms and conditions for implementing the planned strategy . Increased demand ( rising incomes, consumption and investment ) , cancel or weaken the effect of " nominal anchor " (in particular , - a fixed exchange rate ) , increased protectionism , measures to support financial enterprises will inevitably contribute to higher inflation. It also will increase " of demand " component. This superimposed inflation expectations , driven by the change of economic policy . The important point is this institutional factor: the availability of powerful " lobbies " in the executive and legislative combination of these factors can lead to a rapid unwinding of inflation up to 15-20 % per month. That would mean a complete failure all anti-crisis strategy with obvious negative social , economic and political consequences . Therefore, the objectives of anti-inflationary policy should be:

 - Predictability of inflation : we can not allow it to accelerate

 more than 3-5 % per month on average in 2009 - 2010 . ;

 - The creation of institutional and financial prerequisites to reduce inflationary potential : in particular , it is necessary to break the inflationary spiral " appreciation of costs - the price increase " - an active role should be played by the State .

 In 2010 - 2012 years. expansion of final demand will require special gain anti-inflationary action in order to stay on the path smooth reduction of inflation. At this time, a key objective of the anti-inflationary policy is to reduce inflation to levels that do not impede the growth of investment activity, ie 35-40 % per year. To solve these problems it is necessary to implement a set of measures aimed at deterring and regulation of all three components of inflation: demand, cost and expectations.

1. In order to stabilize price expectations should be regularly set targets inflation and money supply by quarter , to develop a system of actions against industries and enterprises that violate the established guidelines.

2 . Appropriate to introduce direct restrictive measures against rising prices in industries - monopolists . Need to encourage cartel agreements between suppliers and consumers .

3 . It is important to limit the budget deficit level of 4 - 5%. increase

 public investment should take place in parallel with the expansion of the revenue base budget ( primarily due to increased tax revenues , especially from foreign trade and excise taxes ) .

4 . Need to keep interest rates at a level slightly above the rate of inflation , thus stimulate their differentiation (increase of deposits ) to slow turnover of the money supply . Wiring should debug mechanisms of centralized credits and grants through authorized banks to prevent the transfer of funds into speculative operations in the money markets .

5 . In the industry for the normalization circuit working capital and development bill circulation is advisable to tighten measures against rising prorochennoy debtor - payables , which stimulates inflation.

6. It is important to limit the percentage of income intermediaries in retail prices of consumer goods. It is estimated that in some cases it is 60-70 %.

7. To bind the money income and reducing the share of cash in the aggregate money supply is necessary to extend the system of government securities to the public and the state deposit insurance . Should take measures to limit the cash money in circulation entities.

8. In order to regulate income is important to strengthen control over the allocation

 pay the cost of production ; block concealment of income , transfer of salary deposits and payment of its currency .

9. For the first time it is advisable to preserve the " currency corridor ", in order to subsequently switch to a policy of stabilizing the real exchange rate.

10 . To combat the seasonal surge in inflation should encourage futures trading seasonal goods , including agricultural products and fuel.

 In the final period (2012 - 2016 gg.) Anti-inflationary policy goal should be to reduce inflation to socio- safe level : 1-2%. Monthly. This requires a radical reduction in the inflationary potential of the economy , changes in relative prices , structural shifts in favor of investment and consumer industries complexes. Stabilization of the dynamics of production and investment makes it possible to gain a deflationary monetary policy focused on the real economy and improving living standards .

CONCLUSION

In conclusion, I would like to course work and draw some conclusions and make a toga .

As an economic phenomenon , inflation has been around a long time. It is believed that she appeared , almost with the appearance of money , the functioning of which is inextricably linked .

However, not every price increase is an indicator of inflation. Prices may rise by virtue of product improvement, worsening terms of production of fuel and raw materials , changing societal needs. But it will , as a rule, not inflation , and to a certain extent , logical, justified the rise in prices of individual goods .

The causes of inflation are complex and diverse . Usually based on inflation is a discrepancy in money demand and the mass of commodities , that is, the demand for goods and services exceeds the size of turnover , which creates conditions for manufacturers and suppliers to raise prices regardless of cost .

Imbalances between supply and demand , the excess of income over consumer spending can be generated by the state budget deficit , excessive investment ( investment volume exceeds the capacity of the economy) , outpacing wage growth compared with the growth of production and productivity , the establishment of an arbitrary state-set prices and other factors. According to the above , we can conclude that most inflation is a consequence of some government activities , change policy, and secondarily with the onset of the war and other disasters.

First of all, suffers from inflation bulk of the population , that is, workers, employees , etc. , those who receive a relatively fixed income and money " subsidize " those whose cash income change. Unanticipated inflation punishes savers . It brings benefits to recipients of loans by lenders. Some families owning property or holding any financial assets and can win and lose with inflation since Financial assets in inflation may depreciate property and certainly increasing in price .

Imagine how many times devalued the national currency since the introduction to the present, when bread cost 20 to 40 tiyn , and today is 50 to 75 m. As you know, in January indexation of pensions by 30%, and social benefits of the budget increased by an average of 9% , in addition, this summer will be increased salaries of public sector employees , civil servants . But at the same time , food prices and utility rates have risen more than allowance for pensioners and the disabled.

So what's the process we are seeing in the economy of Kazakhstan ? Inflation - is to increase the general level of prices or devaluation - a one-time devaluation of the national currency , many confuse this concept with a denomination ( tilting zeros denominations of banknotes , currency ) .

In my opinion, the world has a certain mass of resources (natural resources ) , which is expressed in general terms , backed up by gold reserves , the monetary unit of a country . And thus , with a lower share of a country in this mass decreases and welfare of the citizens of that country. That is no coincidence Mexico one of the world's poorest countries , as the U.S. and Canada have taken its share , the same situation with Africa , through which there is a good European countries . Thus, if you started earning more than others , someone became poorer. This principle applies in accounting : an increase ( decrease) in any balance sheet items of assets , respectively, increased (decreased ) by certain articles of section liabilities. I believe that capitalism - it 's not a good system in which the rich get richer and the poor poorer , but also Chinese socialism with a human face is not nothing better.

The global financial crisis has stopped inflation, and can agree with this , he also revealed the true cost of goods and services , but why did prices rise ?

Money supply in the Republic of Kazakhstan has more or less stable size, ie You can distribute the money in another way: to increase social obligations of the state and civil servants' salaries , but at what expense? And this is quite difficult question to answer . For example, the Russian social obligations to their citizens have been increased due to the increase of social tax to 34%. And increasing the salaries of civil servants by reducing the total state and thus increase productivity. And we are likely due to income from oil exports , as Tax collection remains at a low level since 2007. Then, before the release of this huge money supply is the process of gradual depreciation of money . Thus, the funds must be earned with the issuance of effective labor at the output of competitive products and quality services. Formula entrepreneurship at " Buy cheaper - sell more expensive " ceases to operate , the production business wants to deal with , since it is extremely unprofitable , life itself will force us to get off the raw pipe and increase productivity , and make a master of innovation.

Regarding inflation. Inflation may be related to several factors such as : the appreciation of the production of goods (increased cost), increase in transportation costs for products and goods produced outside of the Republic of Kazakhstan - the increase in customs duties and tariff escalation , increase in prices of raw materials. Of course, the growth of certain types of products will continue due to the extreme drought in the next two years, but I can not agree with the fact that rising prices for utilities and other products , which cost in the production has not changed.

Concerning the welfare of citizens . Clear to everyone that in order to increase pensions and salaries of civil servants is to improve the welfare of the citizens of Kazakhstan. But if we consider the welfare of the citizens of other countries ( such as the UAE , USA, UK , France and Germany ), it is an event for us :

- Travel to other countries (purchase tour tickets , hotel expenses ) that for people above countries is commonplace ;

- The purchase of large household appliances ( LCD TV , laptop , refrigerator , automatic washing machines, etc.) ;

- Improvement of living conditions .

Price level , such as household appliances worldwide relatively the same, but the income levels of the population of each country differ in dozens ( hundreds) of times that creates a sense of people keen sense of injustice.

Based on the above, I consider it expedient forum members to protect their savings from possible fluctuations tenge soon to invest in foreign currency - the euro and the dollar in the proportion of 50 to 50 , or to the bank for deposit in foreign currency , but not more than the amount that is insured deposit Guarantee Fund .

In March 2013 , Kazakh inflation was at 0.2 percent, while in March 2012 was 0.3 percent , Tengrinews.kz reports citing the press service of the National Bank of Kazakhstan .

 According to the Statistics Agency of Kazakhstan, food prices in March 2013 rose by 0.2 percent last year, the figure was 0.5 percent. Non-food prices rose 0.2 percent , as in March 2012 .

 " In the food market in March 2013 rose to the greatest extent pasta - by 0.6 percent , eggs - by 0.6 percent , fish and seafood - by 0.5 percent , fruit and vegetables - by 0.5 percent , including beet - by 2.9 percent , carrots - 1.7 per cent , rice - by 0.4 percent. also dairy products rose by 0.3 percent. However , the decline in prices was recorded for buckwheat 1 percent , sunflower oil - by 0.2 percent , "- said the press service of the National Bank.

 Increased prices and non-food products . Thus, the prices of clothing and footwear increased by 0.2 percent, household goods - by 0.2 percent , medicines - by 0.3 percent. Meanwhile , it is reported that the cost of diesel fuel increased by 6.3 percent , while the price of gasoline has increased - by 0.1 percent .

 In addition, the National Bank press service noted that the group of paid services payment for housing and communal services increased by 0.7 percent. While rates for garbage collection increased by 7.6 percent, sewerage - by 7.2 per cent , cold water - by 5.7 percent , housing maintenance - by 1.6 percent . Tariffs for hot water , central heating and LPG decreased by 0.3 percent .

 However, in the past month decreased prices for telecommunications services by 6.3 percent , including for telephone and facsimile - by 7.8 percent , as well as transport services - by 0.1 percent . In addition, medical services rose by 2.3 percent .

 During January- March 2013 inflation stood at 1.9 per cent (January- March 2012 - 1.1 percent ) . At the same time food prices since the beginning of 2013 rose by 1.1 percent , non-food products - by 0.6 percent , paid services - by 4 percent.

 In addition, in March 2013 the annual inflation rate was 6.8 percent ( in December 2012 - 6 percent) . Groceries in the last 12 months rose by 4.7 per cent (previous year - 5.3 percent ) , non-food products - by 3.3 percent ( 3.5 percent ) , paid services - 13.1 percent ( 9.3 percent ) .

List of References

1 Constitution of the Republic of Kazakhstan

2 . On the Republican Budget ( for the relevant year )

3 . Code of RK "On taxes and other obligatory payments to the budget" (Tax Code)

4 . Regulations of the Ministry of Finance

5 . Regulations of the Ministry of Economy and Budget Planning of RK

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Миржакыпова С.Т. Банковский учет в Республике Казахстан:

11. Балабанов И.В. Финансы и государство, Мн.: Экономика, 2007 г., 320 с.

12. Сергеев А.С. Финансы и право, Мн: БГЭУ, 2008 г., 210 с.

13. Пархачев А.Г., Е. Финансы государства, Мн.: Новое знание, 2007 г. 190 с.

14. Самойлова П.П. Финансирование и кредитование, Мн.: Из-во Просвет, 2007 г. 205 с.

15. http://www. home credit.ru

16. http:// www.damu.kz

17. http:// www.stat.kz

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