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Few economies can compare favorably with Kazakhstan’s achievements: PM Massimov

07 june 2011, 17:23
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Karim Massimov. Photo cortesy of government.kz
Karim Massimov. Photo cortesy of government.kz
“Few economies can compare favorably with Kazakhstan’s achievements since gaining independence: the national GDP has grown 12 times, reaching $9 000 per capita. Even against the backdrop of the global recession our economy continued to grow, and now the economy growth rate stands at 7% a year”, Kazakhstan’s PM Massimov said when opening the women’s forum within the 7th World Islamic Economic Forum in Astana today, June 7, Novosti Kazakhstan reports.

“We have managed to slash the unemployment twofold, now the unemployment is lower than that in the USA, Great Britain, France or Germany”, he emphasized.

The PM noted that Kazakhstan is seen as “a responsible, multicultural tolerant nation, which is a bridge between the West and the East (…) When we were just laying the foundation on the ruins of the USSR just few outside Kazakhstan believed it would be possible”, he said.

He stressed that over 7 000 small and middle-sized businesses are responsible for 1/3 of the national GDP. “There are about 3 million people [working for these businesses] (…) a big number of small businesses have been pushing the economy forward (…) we plan to bring the share of small and middle-sized businesses in the country’s GDP up to 40% by the end of the current decade”, he said.

“To this end, we are enhancing the education system, we are reducing the administrative burden on the business, providing a greater access to credits. We will be relying on young entrepreneurs to implement the national ambitious plans to diversify the national economy”, he said.

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