Dzhandossov: Oil production ceiling should be set

A famous Kazakhstan economist, former head of the National Bank and Kazakhstan Ministry of Finance Oraz Dzhandossov suggested the Government to “set a ceiling limiting oil production,” Tengrinews.kz reports. At the meeting of the Ministers of Oil and Gas, Economic Development and Trade, Labor and Social Protection and other authorities and opposition representatives Dzhandossov said that everyone has to answer the question: “What do we want to do with the oil sector?” He said he doubted that is wise to continuously keep increasing oil production volumes. As per the economist, it is necessary to set a limit and attract foreign investors to other sectors. It is better to “focus on agriculture.” Only 0.2 percent of overall investments in the country were funneled into agriculture this year. As per the Minister of Agriculture, the sector is suffering from insufficient investments.