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Economy overheating - threat to state competitiveness

Astana. February 9. Kazakhstan Today - Overheating of Kazakhstan economy remains as a threat for the competitiveness of the country, the government program for 2007 - 2009 states. "Despite significant improvement of the social and economic situation in the country, there are certain factors able to affect economic stability, to increase threat of overheating economy, that, in turn, will be affect the competitiveness of Kazakhstan," the document emphasized. The economy of the Republic is developing in the conditions of high inflow of foreign currency, growth of the volume of external debt of real and bank sectors, and foreign investments that put inflationary pressure upon the economy and the exchange rate of KZT towards its strengthening," the government program says. "The raw orientation of the economy still dominates. The greatest flow of investments goes to extracting sector. Non-raw export remains at a low level. The potential of the economy diversification and modernization is not realized," the document emphasized.

Resourse: Kazakhstan Today

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