President Nazarbayev tallies 2011 economy results

Kazakhstan’s President Nursultan Nazarbayev tallied 2011 economic results when speaking at a Government sitting in the Astana-based Akorda Presidential Palace December 26, Tengrinews.kz reports, citing the President’s official website. “The year of 2011 was an important and successful year. Kazakhstan celebrated the 20th anniversary of its independence. The real GDP growth stands at $7.3, with the GDP per capita indicator making up $11 000. The nation’s currency and gold reserves exceed $75 billion. The year was successful for the agriculture sector: agricultural produce output grew 25.5% as compared to 2010. The national construction sector has seen growth of 3%, with industrial production growing by 4%”, Head of State said. President reminded that the Government had been implementing the Industrialization Roadmap Program comprising 609 projects totally worth KZT 9.6 trillion. For the last two years a total of 90 000 jobs have been created within the Program, with thousands of people retrained and enjoying a substantial income growth. A state-run program in the construction sector has enabled 53 000 owners of pre-paid apartment blocks under construction to move into the new housing [the construction companies wouldn’t have been able to complete the construction following the credit crunch against the backdrop of the global financial crisis]. Within the Business Roadmap-2020 [seeking to support S&MBs;], a total of 750 projects have been financed through the state-run financial vehicles. Unemployment rate has been slashed to 5.3%. At the same sitting, the President urged public bodies and national companies to introduce stricter cost-cutting measures, renouncing lavish events, conferences and presentations. Besides, he encouraged high-ranking government officials to limit themselves to staycations during the New Year celebrations.