Government's anti-crisis efforts proved effective for labor market
ANA. June 24. KAZINFORM /Serik Sabekov/ - The stimulus measures taken by the Government of Kazakhstan have had a good effect on the labor market of the country. Minister of Labor and Social Protection Gulshara Abdykalikova stated this today at the international conference titled «Consolidation of regional and interstate cooperation in social, labor and migration spheres serves for development, stability and security» which is being held in Astana.
«The anti-recession measures taken by the Government have had a positive effect on stabilization of the situation in the labor market. Since April 2009 the size of the hidden unemployment has decreased by 30% which also the result of the efforts of the employers. More than 5,200 enterprises of large and small business where more than a million people are employed, backed the initiative of the Government and trade unions to conclude a jobs preservation memorandum. This was a sheer example of social responsibility of the business community in a hardship not to let the pessimistic forecasts of staff mass reduction come true.» - the Minister reported.
Kazakhstan was among the first to have addressed the financial crisis and elaborated an anti-crisis program. Thus, USD 4 billion has been allocated to stabilize the financial liquidity of banks. To resolve the real estate issues and provide funds for the housing construction USD 4.5 billion was allocated. USD 2.3 billion was budgeted into the development of the agro-industrial complex. Innovative, industrial and infrastructure projects received USD 1 billion each. On the whole, more than USD 22 billion of funds of the republican budget and the National Fund has been invested into the country's economy as part of the anti-crisis measures.