According to Timur Kulibayev, the chairman of National Chamber of Entrepreneurs, Kazakhstan plans to subsidize the credits to the companies which faced high-interest rates.

"We now with the government... working on a possibility of an increase in a liquidity of the national currency. And we are working on the mechanism to reduce the interest rates in order to stabilize the economy. credits will propose under 12 percents," a billionaire from the Forbes top list told.

The decrease of the official rate of National Bank might be the key to restart the pressure upon tenge which lost more than a half of cost against to dollar since last August. That time, Our main financial regulator sent tenge to free floating in World market.

"This mechanism works: through a road map of subsidizing of an interest rate," Nazarbayev's son-in-law added.

As reported earlier, Kazakh Bank's Face established a base rate at the level of 17 percent after holding 500 percent rate in last three months.

Mr. Kulibayev and his wife Dinara hold a controlling share of Halyk Bank, one of the largest financial institutes in Kazakhstan. Forbes estimated their fortune in 3,6 billion US dollars, holding together.

Photo: almaty.palata.kz