Kazakh President?s Message ? optimism about future development.

In the last couple of months most of global political, economic and intellectual resource have been devoted to resolution of one the biggest challenges ever faced by the modern economy ? global financial crisis. The magnitude of the crisis has yet to be clearly stated in the financial and economic spheres, but its impact measured in political and social dimensions cannot go unnoticed. A wide spectre of proposals, comments and analyses are being offered manifesting themselves in opposing ideas as well as pursuits of compromises. Leading nations such as US, Russia, Germany and France, as well as G-20 countries are discussing various solutions for overcoming the crisis. The flow of monetary funds from governments to private banks, corporations and manufacturing industries which is currently taking place is unprecedented in history. Amidst these turbulent events the address of the President of Kazakhstan from March 6th 2009, ?Through the crisis ? towards renewal and development? underlines consistency and predictability of N. Nazarbayev?s policies. One of the focal points of the presidential address is the realization that the current crisis will cause a significant change in the structure of the world financial system. A similar opinion was voiced by Russia?s President, Dmitriy Medvedenko, regarding abandonment of the American dollar monopoly as well as creation of regional financial centres that will be able to react quickly to negative economic shocks. President Nazarbayev?s anti-crisis program is based on the following points: presence of a legislative base for the realization of the program, adherence to the course established by the 2030 development strategy and last but not least, resolution of socio-economic issues. Special attention is devoted to the realization of the new plan for modernization of the economy and its most important spheres ? energy, transport and industry. It is expected that in the next 2 years over 600 billion tenge will be devoted to that cause. The overall volume of funds directed at anti-crisis measures by Kazakhstan?s government exceeds 2.7 milliard tenge and is mainly designated for modernization of the , reparation of local roads, reestablishment of social infrastructure. Experience teaches that failure to timely address the fears and hopes of the society can lead to unpredictable cataclysms. Some of the plans advocated by President Nazarbayev that are in line with this view include adoption of the decision to provide 11,000 grants and 40,000 student loans, proposal on provision of requalification and re-education programs while creating at least 350,000 new jobs and adherence to the stated commitment to continue increasing the level of social benefits as well as wages of civil servants. Kazakhstan?s geopolitical location is of great importance from a macroeconomic perspective. Chairman of the National Bank of Kazakhstan, G. Marchenko, in light of the tough economic situation expressed his hopes on the rapid development of the Chinese economy. In his opinion, one of the main prospective foci of the Kazakhstan-China sub-committee on financial cooperation will be establishment of mutual exchange of information and practical experience on issues of balance of payments formation, macroeconomic statistics and development of measures for monetary regulation and financial stability. During the forum ?Participation of businesses in the development and realization of the anti-crisis policy?, which was organized by Kazakshtan?s National Chamber of Economic on April 7, 2009, countries such as Russia and Ukraine have expressed their hopes that Kazakhstan?s anti-crisis plan will prove to be effective. Also, on April 9th of 2009, a resolution is to be adopted in Moscow stating the priorities of anti-crisis measures of these 3 nations. At the current stage, N. Nazarbayev?s presidential address with its focus on social stability, strengthening of regional integration and cooperation, as well as balanced domestic and foreign policy serves as a valid reason for optimism about the future development of the country. This year is marked by the Chinese symbol for crisis which consists of 2 hieroglyphs ? threat and possibility. Everyone seeks in those 2 components elements of hope. Perhaps, realism, connected with the fact that ?everything new is well-forgotten old?, will give a cue that challenges, regardless of their character or magnitude, are overcome by those who are prepared to overcome them.