Highlighting Inflation Control and Market Expansion in Kazakhstan during Astana Finance Days 2025

News Article: Astana Finance Days 2025 Highlights Kazakhstan's Economic Progress and Inflation Targets

The second day of Astana Finance Days 2025 took place at the Astana International Financial Centre (AIFC) on Sept. 5, with key figures in Kazakhstan's economy discussing the nation's financial market development and inflation targets.

Timur Suleimenov, Governor of the National Bank of Kazakhstan, emphasized the importance of maintaining market stability and collaboration between the government, market, and investors to build confidence among investors that inflation is temporary. He highlighted a paradox in market expectations, comparing inflationary pressures in Russia and Kazakhstan, with investors demanding a premium in Kazakhstan due to skepticism that inflation will decline to the 5% target. Suleimenov stressed that coordinated efforts from the government, investor community, and central bank are necessary to reach a level of around 12% inflation.

Turlov, head of Freedom Holding, highlighted factors that make Kazakhstan well-positioned to achieve its inflation targets. He pointed out that the Astana International Financial Centre (AIFC) is helping to bring this demand from foreign investors to fruition. Turlov stated that Kazakhstan is an open country for capital with an investment rating, making it attractive to foreign investors seeking to preserve and diversify their savings. He noted that Kazakhstan has helped issuers attract nearly $2 billion through local placements alone over the past two years, with demand from local investors exceeding supply for the first time.

Kanat Sharlapaev, Assistant to the President of Kazakhstan on economic issues, emphasized that economic diversification is showing results, with oil and gas becoming less dominant drivers of GDP. He highlighted the importance of attracting more market participants and encouraging independent asset managers to provide varied perspectives on assets.

Participants discussed growing portfolio flows, their impact on public debt management, domestic IPO pool, joint investment instruments with international partners, regulatory reforms, clearing and settlement infrastructure, and strategies to position Kazakhstan's capital market as attractive to long-term global investors. Turlov expressed confidence that increasing competition in government bond pricing will help the Ministry of Finance reduce its borrowing costs, which, in his opinion, strengthens inflation management.

Turlov also noted that there are market makers who can ensure local and international settlements for government bonds in Kazakhstan. He stated that government bonds in Kazakhstan are currently trading with a yield of 17% but expects that inflation will slow down over time. Suleimenov noted that coordinated action across the state, society, and markets is crucial to build confidence among investors.

The plenary session focused on the contribution of portfolio investments to accelerating the development of Kazakhstan's financial market and supporting economic diversification. The available search results do not contain information about the name of the company or person serving as the chief at the Astana Finance Days 2025, nor about the person depicted in the image from the AIFC press department.