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Creation of national e-currency proposed in Kazakhstan

by July 21, 2020 Market

Anti-Сorruption Agency Chairman Alik Shpekbayev has suggested creating a national electronic currency. He also listed two upsides to an idea of the national electronic currency while addressing a meeting on Tuesday, Kazinform correspondent reports.

According to Shpekbayev, an electronic currency means less paper cash in use, therefore, less briberies. Secondly, it will be easy to track budgetary funds for public procurements once an electronic currency is introduced.

He went on to say that the budget planning and utilization system should be overhauled so as to avoid corruption in public procurement. According to him, the key is to ensure full openness and transparency of budgets at all levels as well as strengthen the public and civil control.



Source: Kazakhstan 2050