Below is the translation of Adam Kesher’s post on the Russian-language part of kazakhstan.neweurasia. 

This sum is the most popular one in Kazakhstan lately. The Kazakh banks have to return 4 billion dollars to their international creditors by the end of this year. The Almaty mayor said that 4 billion dollars will be necessary to pay compensations to the owners of illegal real estate in the national parks near the city. The president ordered to allocate 4 billion dollars for liquidation of the consequences of economic crisis, which — according to his words — is not present in Kazakhstan.

All of these things — especially the last point — provokes dissatisfaction and grumble in the society. The citizens believe that this is an ungrounded state support to the private institutions, bacause it was initially supposed that the money would go to the banks. Another government’s idea of buying out the slightly sinked shares of the banks on international stock markets is regarded as an attempt of the state to gain control over the banks, which have become quite autonomous structures having certain political interests.

Daulet Sembaev, a former bational bank governor and a “godfather” of the Kazakhstan’s banking system and national currency, currently working for the largest bank - KazkommertzBank - has elucidated in the recent interview to the local popular - though somewhat yellowish - newspaper:

“The government’s 4 billion dollars will be funnelled to the economy’s real sector, not to the banks. We don’t need these money, and do not count on them. The funds will enter the economy in two ways - through the state-owned Kazakhstani Mortgage Company and state Development Bank, both of which will use the money to credit SMEs, mortgage and innovative projects”.

It’s amazing that the Kazakhstanis learn about the government’s true intentions from tabloids.