WEEKLY REVIEW: Kazakhstan participates in the creation of regional financial institutions

Monday, October 20, Vice Minister of National Economy Kairbek Uskenbayev, at the Council meeting on regional policy and work with maslikhats under Nur Otan faction, said that more than KZT 11 billion has been allocated this year to repair 698 multifamily housing. Repair of 140 houses has already been completed. Tuesday, October 21, at the joint meeting of the Council on Economic Policy under the faction of Nur Otan in the Majilis Energy Minister Vladimir Shkolnik said that in 5 years Kazakhstan may start synthetic oil production from coal. Wednesday, October 22, Minister of National Economy Yerbolat Dossayev met with the Minister of industry, trade, as well as small and medium business of Egypt Mounir Fakhry Abdel Nour. During the meeting Y.Dossayev noted that Kazakhstan welcomes the proposal to establish a free trade zone between the countries of the Customs Union and Egypt. Dossayev stressed that the establishment of the free trade zone will give a significant boost to bilateral cooperation between the two states. Deputy Director of Youth Policy Department Yerkin Uysimbayev at a briefing in the Central Communications Service said that 225 youth resource centers will come into force in Kazakhstan till the end of the year. According to him, the main tasks of centers is to raise the awareness of youth about their rights in the sphere of employment, education, professional training, tourism, sport, psychological aid and development clubs for adolescents. The centers will be in cooperation with international organizations. Thursday, October 23, at the 5th meeting of Kazakhstan-Japan commission on economic cooperation, Prime Minister Karim Massimov announced the signing of the agreement on investments. "The event is important for both countries. The agreement will provide safe investments in our country," Massimov stated. Head of the Government also reminded that this year Kazakhstan has adopted law that provides foreign investors with additional opportunities including tax preferences. Under the forecast of social and economic development for 2015-2019, by 2015 Kazakhstan's GDP will increase by 4,8%, Minister of National Economy of Kazakhstan Yerbolat Dossayev said Thursday at the presentation of draft of Law "On making changes to the Law "On Republican budget for 2014-2016". He added that in 2015 the GDP is expected to exceed KZT 43,3 trln. The GDP per capita will increase from USD 13,5 thousand to USD 20,8 thousand in 2019. "Prediction level of oil price for 2015 reduced from 90 to USD 80 per barrel, for 2016-2019 it is USD 90 per barrel. Price for metal in 2015 is the same and will increase by 5,4% by the year 2019," the Minister said. Minister added that the inflation level is at the same corridor 6-8% with further reducing to 5-7%. On Friday, October 24, the Minister of Foreign Affairs of Kazakhstan Erlan Idrissov said that Kazakhstan supports the expansion of the UN presence in the country. According to him, the Central Asian region for many reasons requires a lot of attention from the United Nations.