We prevented recession since we knew what to do: N.Nazarbayev
12:07, 29 January 2010
ASTANA. January 29. KAZINFORM /Serik Sabekov/ "We prevented recession in the country as long as we knew what to do and worked fast", Kazakh President N.Nazarbayev has said today at the joint session of the Parliament in his address to the nation.
The President reminded that the growth of the economy was up to 1.1% and the industrial growth - 1.7% in 2009.
N.Nazarbayev also stressed that gross international reserves and assets of the National Fund exceeded USD 50 bln and grew by over 25 times over the last decade.
"Due to the Fund we managed to implement the anti-crisis measures and returned the most important assets, which we had to sell before, back to the state", the Head of the State said.