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The most difficult period for Kazakhstan’s economy has passed:K.Bishimbayev

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by October 25, 2016 Legal

It should be reminded that at the meeting of the Government of Kazakhstan, K. Bishimbayev reported that GDP growth in Kazakhstan amounted to 0.4% for the first 9 months of this year.

“We believe that the most difficult period has been passed to Kazakhstan’s economy. We estimate that the period was in the first quarter of this year, it was the time of the lowest oil prices. After transition to a freely floating exchange rate, which was finally completed in September-October 2015, we began to see them. Of course, this required adaptation of companies, national companies, small and medium-sized businesses. There is steady growth in the economy since June this year,” Minister said.

According to him, economic growth was affected by the change of conditions on the main export products of Kazakhstan, including oil and iron ore, as well as a record harvest in agriculture, which was collected in the current year.

“Nurly Zhol state program of infrastructure development, adopted at the initiative of the Head of State and Anti-Crisis Plan of the Government of Kazakhstan and the National Bank of Kazakhstan have a big influence on it,” Minister said.

Source: The Prime Minister of Kazakhstan

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