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Kazakhstan is ready to face new financial crisis: Massimov

21 september 2011, 12:33
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Kazakhstan Prime-Minister Karim Massimov. Photo courtesy of flickr.com
Kazakhstan Prime-Minister Karim Massimov. Photo courtesy of flickr.com
At the meeting of Nur Otan party parliamentary fraction Kazakhstan Prime-Minister Karim Massimov said that Kazakhstan is ready to confront new world economic crisis.

“New decade is bringing new challenges that we have to face. I can say that there is a high probability of a new economic recession in the world,” Massimov said. He added that pursuing Nursultan Nazarbayev's instruction the Government developed an exact action plan in case of a negative scenario in the world economy.

“We are ready to face new challenges and know from first-hand experience how successful a collective breakthrough effort can be,” PM stressed.

Massimov also told about measures aimed at overcoming consequences of the world economic crisis that started in 2008. “Kazakhstan was one of the first countries to face the negative effect of the crisis fallout and one of the few countries to take preemptive, thus effective, anti-crisis measures,” he noted. According to Massimov, over 1.5 trillion tenge ($10 billion) have been allocated from the National Fund for the anti-crisis program.

Meanwhile, Massimov noted that Kazakhstan GDP exceeded $148 billion in 2010. Kazakhstan President has set a task of bringing GDP per capita to $15 thousand by 2016.

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