After the devaluation of the national currency by 20 percent, Kazakhstan promises to raise wages by 10 percent

The National Bank refused to further support the national currency tenge in the interbank foreign exchange market. As a result, within one day, the national currency of Kazakhstan devalued by 20 percent. President of the Republic of Kazakhstan Nursultan Nazarbayev called on industrial enterprises to raise the salaries of their employees by 10 percent.

Earlier it was reported that the President of Kazakhstan sent letters to the owners of large mining and metallurgical companies ArcelorMittal, Kazakhmys, Kazzinc and ENRC - mining and metallurgical companies that will benefit most from the devaluation of the tenge.

The first to respond was the metallurgical plant of JSC ArcelorMittal Temirtau, whose director solemnly stated that “taking into account the President's appeal, ArcelorMittal announces a voluntary increase in wages by 10 percent starting from April 1, 2014”.

Poverty overnight by 20 percent, residents of Kazakhstan believe that their president showed extraordinary concern, asking billionaires to raise their workers' wages.

“This step is an example of the President’s concern for the workers,” says Alexander Kislukhin, head of the production sections of the network shop at the ArcelorMittal Temirtau substation.

As far as we know, none of the companies listed by him dared to deny Nursultan Nazarbayev his request, and from April-May 2014 there will also raise wages by 10 percent.