Kazakh Government concerned with potential capital flight
The Kazakh Government is concerned with the growing threat of capital flight. “Under the liberal economic conditions put in place in Kazakhstan, there’s a threat of capital outflow to more receptive markets of neighboring countries, where no less favorable investment climate has been created in recent years”, noted Aslan Musin, Minister of Economic Affairs and Budget planning, at a session on practical application of the President’s Address to the Nation.
The Kazakh Government is concerned with the growing threat of capital flight. “Under the liberal economic conditions put in place in Kazakhstan, there’s a threat of capital outflow to more receptive markets of neighboring countries, where no less favorable investment climate has been created in recent years”, noted Aslan Musin, Minister of Economic Affairs and Budget planning, at a session on practical application of the President’s Address to the Nation.
”There’s only one way to counteract – along with facilitating Kazakhstan’s capital emergence at foreign markets, the government should create favorable conditions for business development inside the country”.
A. Musin also noted deceleration of capital investments. According to the Ministry of Economic Affairs, back in 2005 this indicator stood at 22,6%, while in 2006 it fell down to 10,6 %. “In the previous years we were concerned with unequal distribution of investments across economy sectors. Currently, the most critical issue is to maintain growth rates at a level acceptable to ensure sustainable development”, A. Musin said.
According to the Vice PM, “emergence of such a situation causes certain anxiety as to possible failure of tasks set to ensure further economy modernization”.
Kazinform
Documents
- National Laws and Decrees of the Kazakhstan President
- Government Regulations and Prime Minister Instructions
- Government Programs
- Public speeches of the Prime Minister and members of the Government
