I have no doubt Nursultan Nazarbayev will win elections: Russian economist Mikhail Khazin

A prominent Russian economist Mikhail Khazin has expressed firm confidence in Nazarbayev’s victory in the forthcoming elections, Tengrinews reports citing National News Service news agency.

According to Khazin, the decision to hold early presidential elections in Kazakhstan was induced by economic difficulties, not local ones, but those of global scale. “I have no doubt that Nursultan Nazarbayev will win the elections. But I do not think that the early presidential elections is a result of some economic difficulties within the country. The status of Nazarbayev implies that he is not just an economic leader, he is the father of the nation. Therefore, his elections has nothing to do with the internal economic problems. Nazarbayev’s status is so far above any specific economic policy of a particular government that it clearly has to do with global developments,” the expert said.

The Russian economist also believes that there is a high probability of a serious economic crisis in the world in the coming year. “I do not rule out the repetition of the 2008 scenario or even the 1929-30s. With this for a background any elections are ill-timed. Such situation requires urgent problem solving (not elections). Kazakhstan’s officials probably understand that the global crisis is unavoidable and hence, are beginning to prepare for it,” Khazin said.

The expert has not doubt that Kazakhstan will be able to handle the possible economic turmoil thanks to the efficient government. “Kazakhstan will not encounter any big problems. There may be some internal difficulties, but they will manage that. Kazakhstan has long been implementing an import substitution strategy. It has shown Russia that import substitution can be effective even for a country that is much smaller (than Russia). They (Kazakhstan) have sustainable economic growth. In this context, the capability of thew Kazakhstan government is quite high. They chose the right strategy and have been implementing it adequately. As for our common economic ties, I think, in the near future, after Nazarbayev’s election, nothing will change in this area," Mikhail Khazin said.

Writing by Assel Satubaldina, editing by Tatyana Kuzmina