Kazakhstan gained 4 lines in the World Competitiveness Yearbook-2012

Kazakhstan gained 4 lines in the World Competitiveness Yearbook-2012 of the International Management Development school (IMD, Switzerland), Tengrinews.kz reports citing the official website of Kazakhstan Prime-Minister Karim Massimov. IMD ranked Kazakhstan 32nd in the World Competitiveness Yearbook-2012, where it was compared with 59 countries. According to the rating of the Global Economic Forum set forth in the Global Competitiveness Report 2011-2012, Kazakhstan elevated from the 26th place to the 18th place (out of 142 countries) and became the leader in Central Asian region by Macroeconomic Stability. Major macroeconomic parameters of the country indicate that macroeconomic environment in Kazakhstan is good. To provide a sustainable growth of Kazakhstan’s economy, the Government has approved key social-economic policies called to ensure 7-percent economy growth in 2011-2015 in line with the instruction of Kazakhstan President Nursultan Nazarbayev. According to Kazakhstan Statistics Agency, GDP growth made 5.6 percent in H1 2012. Kazakhstan was ranked 12th out of 142 countries in the Global Economic Forum’s rating by national savings. According to Kazakhstan Ministry of Economic Development and Trade, savings in Kazakhstan made around 30 percent of GDP in 2011. Besides, Kazakhstan’s net international reserves made $32.3 billion in June 2012, so the cumulative amount made $86.3 billion. Inflation rate is yet another factor defining competitiveness. In June 2012 Kazakhstan’s inflation rate reached 5.9 percent, which is 3.4 percent lower compared to the same period last year. Kazakhstan Government and National Bank take anti-inflation measures to maintain the inflation rate at 6-8 percent.