Government developed 2016-2018 Anti-Crisis Programme

Delivering a speech K.Massimov told that the Head of State had charged the Government to develop a new anti-crisis programme which will be based on the previous anti-crisis plan for 2007-2009. "The document is almost ready and it requires only additional revision and adoption. The programme will consolidate all our decisions and measures taken in 2014, 2015 and 2016," he said.

In PM's opinion, the adoption of the three-year budget for 2016-2018 will help the Cabinet get out of the crisis situation. The Prime Minister cited the President, who said that the current crisis was a unique one. "This is the period of transformation of the global economy. The way how we will overcome this turbulent period depends on how the Government backed by deputies will appropriately solve the existing economic challenges," he emphasized.

Further, the head of the Government explained the difference between the current and previous crises. "Economic reality of the world has changed substantially. We must adapt to the new economic conditions and live in this new reality. What is this reality? As we can see, the prices for main export goods from Kazakhstan, such as raw materials, oil, metals and other exported commodities have fallen significantly since 2012," Massimov reminded.

"It means that for the first time since 1991 Kazakhstan has faced historical minimum of oil, ferrous and non-ferrous metals prices. We suppose that this won't be a short-term decline, as it was in 2007-2008. As you can remember, there was a sharp increase in prices then. We had just to weather that economic downturn. Now we must realize how to respond to such negative trend in a long-term period," he noted.