Kazakhstani economy growth's reduction related to economy of Russia: Smailov
18 August, 2014 14:29
Speaking during the CCS press conference, Chairman of the Statistics Committee of the Ministry of National Economy of Kazakhstan Alikhan Smailov announced the "Decrease in growth rates of the Kazakhstani economy is related to the economy of the Russian Federation.
“First of all, some reduction of the country’s economy is related to the Russian economic slowdown. If in 2012 the rate of growth in Russia's GDP was 3.4%, this year GDP growth is expected to be 0.5% -0.6% . Naturally, it can affect Kazakhstan due to our close economic cooperation. In particular, the decline in GDP growth causes a decrease in demand for our Kazakh export products. This, in turns leads to a decrease in production in the industrial sector," A.Smailov noted.
In general, the Chairman of the Statistics Committee informed the situation in the Kazakhstan’s economy is steady but stressed the nonferrous-metals industry growth decrease.
Madina Nurbekova
