President of Kazakhstan Nursultan Nazarbayev signed a decree on the early termination of the powers of the country’s parliament - the Majilis, Tengrinews.kz reports.

Early elections are scheduled for March 20, 2016.

A week ago, Kazakh deputies - Majilismen - took the initiative to early terminate their powers and call new elections. This measure is necessary due to the “aggravated economic situation,” it was explained in parliament. Parliamentarian Vladislav Kosarev, in turn, said that early elections are necessary in order to “immediately begin implementing reforms now, as well as for the effective implementation of anti-crisis measures” (quoted from RIA Novosti ).

The head of the research and analytical center for CIS affairs, Alexander Gusev, told RBC on Monday that the elections are explained by Nazarbayev’s desire to rely on his people in a situation where the political situation is heated up, political discontent is growing and the opposition is “raising its head.”

As RBC also wrote, the economy of Kazakhstan is experiencing its second crisis year. In 2015, presidential elections in Kazakhstan were held ahead of schedule. Experts then explained the holding of the elections by the desire to ensure re-election before the onset of the second wave of tenge devaluation.

On August 20, 2015, Kazakhstan moved to a freely floating exchange rate for its currency, on the same day the official tenge rate fell by 35%, from 188 to 255 tenge per dollar. Shortly after this, the Minister of Finance of Kazakhstan, Bakhyt Sultanov, stated that the lives of Kazakhstanis will not change and at 300 tenge per dollar.

In early November, Kazakh President Nursultan Nazarbayev dismissed the head of the National Bank, Kairat Kelimbetov, declaring an unacceptable drop in the level of confidence in the national currency. A few days after this, the official dollar exchange rate exceeded 300 tenge.

On Wednesday, the weighted average dollar exchange rate during trading on the Kazakhstan Stock Exchange amounted to 372.03 tenge (7.47 less than the weighted average the day before). From the next day it is approved by the National Bank of Kazakhstan as official.

the depreciation of the tenge Experts associated with the deterioration of the situation in the economy of Kazakhstan associated with the fall in world oil prices. “The tenge is freely floating, and the deterioration of the foreign economic situation leads to increased demand for dollars from business and the population. In the near future, oil may continue to fall in price, which will increase pressure on the tenge,” explained to Bloomberg in December. Damir Seisebaev, head of the analytical department of the Kazakh company Private Asset Management,

In June, former Russian Finance Minister Alexei Kudrin said that he liked a lot in President Nazarbayev’s “100 steps” program. “And I suddenly noticed that Nazarbayev moved the elections. This is right. Any program requires political support. This requires a political mandate and a window of opportunity. It always arises after elections,” Kudrin noted.

Nazarbayev signed a decree on early parliamentary elections