GDP is projected to grow 3.5 percent, up from a previous forecast of 3.2 percent, annual inflation will be 8.5 percent, up from 6.5 percent,

Annual inflation jumped to 10.2 percent in July, up from 9.5 percent in June this year and 5 percent in December last year.

The regulator’s decision was based on some key factors, including high inflation expectations, an unchanged inflation target of 10 percent.

IFC, a member of the World Bank Group, signed a Memorandum of Understanding with Ukraine's Agrarian Policy Ministry that envisages joint work on sector reforms, including identifying the proper institutional approach to improve the irrigation and drainage systems.

The total assets of the banking sector rose by 0.1 percent in July to 34.8 trillion tenge mainly due to the growth of bank loans by 1.8 percent and deposits placed in other banks by 6.6 percent,.

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