BAKU, Azerbaijan, February 17. Kazakh authorities allocated 15 billion Kazakh tenge ($33.65 million) to stabilize food prices in Almaty, Yerbolat Dosayev, the Head of the Municipality of Almaty, said, Trend reports, citing Kazakh media.
Dosayev added the authorities will supply additional products to support the demand, and prevent the food prices from increasing further in March.
“Price increase is a major challenge for the city municipality. We started work to control the prices of socially important goods in autumn. We hope that this will help contain the price growth,” he noted.
The municipal head also highlighted that the municipality already concluded negotiations with Aksu Sugar Plant for the provision of sugar supplies worth 2.6 billion Kazakh tenge ($5.83 million). Dossayev concluded by saying that this deal should prevent the increase in sugar prices during the summer months.
Kazakhstan suffers from high inflation, particularly, inflation for food products.
Yesterday, the National Bank of Kazakhstan said that overall inflation amounted to 20.7 percent year-over-year, while inflation for food prices reached 25.7 percent.