Global financial crisis may favor Kazakhstan

Dodonov said there is one more interesting aspect in the existing global financial crisis. Surprisingly, such crisis can positively impact Kazakhstan. Someone can say it will serve for our favor. Why? The new crisis and further collapse of financial markets in developed countries , if it happens, will force the central banks of the developed countries, primarily the U.S. FRS, to work more actively. We may suppose that the FRS will launch a monetary easing program or the so-called quantitative easing method - being implemented in the past several years. If the FRS receives a part of these funds, and if a part of money will be transferred to the commodity markets by speculative channels, this can make Kazakhstani oil rise in prices," he noted. The expert emphasized that Kazakhstan had already experienced the heaviest strike of the current crisis - oil prices fall. Unlike the crisis of 2008 year, such external factor as dependence on foreign lending does not influence economy any more.