On November 20-22, a joint delegation of the National Bank and the Agency for Regulation and Development of Financial Market visited Hungary to participate in the Budapest Eurasian Forum of the National Bank of Hungary.

This year's Forum coincided with the 100th anniversary of the National Bank of Hungary and was dedicated to the discussion of current economic policies, competitiveness of the knowledge-based economy, as well as development of the future financial system in the context of digital transformation. 

Mr. Akylzhan Baimagambetov, Deputy Governor of the National Bank was the speaker of the panel session on the factors of sustainable economic growth. In his speech, the Deputy Governor informed about the measures of Kazakhstan to promote the transition to a “green economy”, the development of ESG-principles in the financial sector, noting the importance of macroeconomic sustainability and low stable inflation. The development of national financial infrastructure and innovation ecosystems were identified as important areas for improving the efficiency of the financial market.

During the discussion, representatives of central banks, research institutions and international institutions also exchanged views on alternative methods for measuring the economic welfare. Low stable inflation is one of the metrics of an inclusive economy, providing the basis for sustainable economic growth.

The visit also included a meeting with the management of the National Bank of Hungary. The parties discussed topical issues of bilateral cooperation, paid special attention to the growth prospects of investment and interbank cooperation, as well as expert interaction between the central banks.

Within the framework of the visit meetings were held with the largest second-tier banks of Hungary, MBH Bank and OTP Bank. Taking into account the country potential of Kazakhstan in Central Asia and prospects for sustainable growth, the Kazakhstan side invited financial institutions of Hungary to expand their presence in the financial market of Kazakhstan.

Detailed information for the media representatives is available upon request:
+7 (7172) 77 52 10
e-mail: press@nationalbank.kz 
www.nationalbank.kz