• Спецпроекты
  • Weather forecast
    • Exchange Rates
    • 426.63
    • 518
    • 5.92
  • SEND YOUR NEWS TO US WhatsApp +7 (777) 001 44 99
  1. Main
  2. Learn
  3. Economy
  4. Finance

We are approaching a more severe crisis than the one we faced back in 2007-2009: President Nazarbayev 20 октября 2015, 11:45

According to him, due to falling global prices for hydrocarbons, budget revenues have dropped by 40%. Besides, global prices are falling for major Kazakhstan’s commodities.
  • ПОДЕЛИТЬСЯ
  • Vkontakte
  • Facebook
  • Twitter
  • Одноклассники
  • Telegram
Новостью поделились: человек

Akorda © Akorda ©

October 19 Kazakhstan’s President Nursultan Nazarbayev received the country’s PM Karim Massimov in his Astana-based residence Akorda. During the talks the PM briefed President on the status of major state-run economic programs.

 “Due to falling global prices for hydrocarbons, budget revenues have dropped by 40%. Besides, global prices are falling for major Kazakhstan’s commodities such as iron ore, base metals, coal. The nation’s agriculture has been growing very insignificantly, with industrial production being on the decrease”, President Nazarbayev said.

“Given the current state of the global economy, there could hardly be any forecast of economic upturn. Kazakhstan’s people should be aware of decreased revenues of Kazakhstan-based enterprises and possible lays off. We are approaching a more severe crisis than the one we faced back in 2007-2009. To this end, I task the Government to come up with an anti-crisis plan, think of needed measures», President said, adding that the gloomy conclusions are based on recent talks held in the USA and China and talks with the Russia’s Government.

“The recently adopted Nurly Zhol Program enables to ensure employment opportunities, including through retraining initiatives (…) Besides, there should be a program to render support to socially vulnerable groups of population”, President said.

“Troubled industrial enterprises shouldn’t expect the Government to give them a hand. I prohibit to use money of the National Oil Fund [accumulating windfall revenues from oil sales] to bail out troubled industrial entities. We have to see what enterprises are genuinely effective (…) Besides, there have been some efforts to have some industrial facilities privatized with a view of ensuring a more efficient management”, he said.



Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan

Firebase Cloud Messaging