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Increase of prices for energy carriers is not major factor of inflation growth in Kazakhstan - Kakimzhanov

Astana. January 14. Kazakhstan Today - Increase of prices for energy carriers is not the major factor of growth of inflation in Kazakhstan, the chairman of the board of the investment fund Zeynulla Kakimzhanov considers, the agency reports. "It is erroneous to consider that the key reason of growth of consumer price index is rise of price for energy carriers. Inflation - the multiple-factor phenomenon, which reflects the structure of the economy, the structure of consumption of the population, dynamics of payments balance and other factors. Rise of prices for energy carriers is one of the components, but not the most essential in growth of inflation in our country," he said in the interview to a weekly journal Business and Authority. Z. Kakimzhanov considers that, speaking about inflow of oil dollars into the country, "it is necessary to consider fast growth of production costs, which could be observed for the last three years." "It has concerned all companies, including oil companies, so their net profit will not adequately grow with the growth of the cost of barrel," he explained.

Resourse: Kazakhstan Today

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