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Government concerned with macroeconomic situation in Kazakhstan

ASTANA. February 13. KAZINFORM /Dina Yermaganbetova/ Government of Kazakhstan is concerned with further sustention of macroeconomic stability in the country and skyrocketing of external borrowings of the baking sector. Aslan Musin, the Vice Prime Minister and Minister of Economy and Budget Planning of the country made it public on Tuesday in the course of the extended government’s session, Kazinform reports. “Expenditure of the domestic budget is running high, Mr. Musin underlined. Citizens of Kazakhstan put up their capital into the real estate market instead of financing other interesting projects, and modernization of economy. We failed to create necessary instrument for investment of population’s free cash assets into other profitable projects”. “This situation has caused surge of inflation process in the country, he added. The rate of inflation in 2006 was the highest for the last 5 years and made 8.6%”. 13.02.07


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