The pair "ruble-tenge" does not scare exporters

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The correctly chosen strategy allowed Pavlodar producers to resist the adjustment of the exchange rate of KZT to foreign currencies

Such examples were given today at a briefing at the Service of Central Communications by the akim of Pavlodar region Kanat Bozumbayev.

He noted that the deviation of the foreign exchange rate of the national currency to the Russian ruble was very noticeable for the region, which borders with the Russian regions.

"When the ratio (tenge ruble) was initially 1: 5, the output of steel products at the “KSP Steel” was about 23 000 tons per month. Then, when the tenge strengthened so that the exchange rate became 2.4 tenge per ruble, the company was producing 2.5 thousand tons of steel products per month. If situation dragged for a couple of months, the plant would have probably ceased the production", - said Kanat Bozumbayev.

Assessing the potential of the first domestic enterprise for the production of seamless steel tubes, Akim noted that "the market of fittings and steel pipes is very competitive, both in Russia and in Kazakhstan, the producers compete within the EAEU".

Commenting on the effects of the devaluation of the tenge, akim noted that population was probably not prepared for this devaluation, for which they should have been preparing for a half of the year". At the same time for such companies, as KSP Steel, the adjustment of the exchange rate difference was a "salvation".

"Because as soon as the course was 4.5 tenge per ruble, KSP Steel began to produce 28 thousand tons of production!", - said the akim.

According to Kanat Bozumbayev "as for the rest of production the enterprise achieved such a high rate, fulfilled the annual plan to 100%".

"The exchange rate of the ruble to tenge is very favorable for the industrialists not only from Pavlodar region", - stated the Akim.

In assessing the financial health of small and medium-sized businesses, he noted: lack of funds for increase of the working capital.

"Last week there were problems with liquidity, but the National Bank raised the refinancing rate, now, as we were told, the banks will receive enough liquidity. And we hope that these funds will be made available for increase of the working of SMEs", - said the Akim.

Zhanar Serdalina