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Kazakhstan Government prepared a plan in case world economy deteriorates

14 october 2011, 18:26
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Kazakhstan’s Prime Minister Karim Massimov. Photo courtesy of flickr.com
Kazakhstan’s Prime Minister Karim Massimov. Photo courtesy of flickr.com
Kazakhstan Prime-Minister warned MPs that deterioration of the situation in the world economy is inevitable and Parliament will be required to act courageously and decisively, Tengrinews.kz reports from the plenary meeting of Kazakhstan Majilis (lower chamber of Parliament).

“My personal point of view is that I share the position stated by British Central Bank that the second phase of recession is inevitable. That’s why I would like to assure you that an alternative development plan exists. In such case the government will apply for your support, dear deputies. Courageous and decisive actions will be probably required, as well as our joint actions to provide stability of development of our economy in general. I would like to say this in advance, as the situation in the world economy is far from being perfect,” Karim Massimov said after the deputies voted for the 2012-2014 budget.

He noted that the government’s alternative plan has been developed in line with instructions of Nursultan Nazarbayev and it will be used case of a negative development of the economic situation in the world.

“The majority thinks that either the second stage of recession or a continuation of the first stage of recession of 2008 will affect the world economy. Nobody can say for sure how this will happen. It mainly depends on political will of the leaders of major countries and on how they react to the situations and the challenges that the world economy will be facing,” PM said.

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