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Minister of Economic Development and Trade Kairat Kelimbetov announces economy performance indicators

28 december 2011, 22:24
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Kairat Kelimbetov. Daniyal Okasov ©
Kairat Kelimbetov. Daniyal Okasov ©
Kazakhstan’s Minister of Economic Development and Trade Kairat Kelimbetov reiterated the country’s readiness for a new wave of the global crisis, Tengrinews.kz reports.

“In case of a new wave of the global economic instability Kazakhstan can rely on its successful experience of spurring its economy sectors against the backdrop of the global economy crisis which unfolded in 2007. A special working group has prepared a package of measures to apply in case of the global economic parameters worsening (…)”, Minister Kelimbetov announced at a government sitting December 28.

“We should be prepared to various scenarios, including negative ones (…) The current global economy indicators testify to slowing growth in developed nations. The Euro zone is facing an escalating crisis. The global economy has seen downwards trends that may lead to recession in the EU and downturn of the US and China’s economies. Fitch has downgraded the GDP growth outlook for the Eurozone. Exporters of oil and other commodities – Russia, Brazil and Chili – may face tough consequences”.

According to Kelimbetov, Kazakhstan is capable of overcoming a new wave of the global crisis. For the first 11 months of 2011, GDP growth stands at 7.5%. Processing industries have seen growth of 6.7%, with the mining sector growing by 1.6%. Industrial production output for the period grew by 3.8%.

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