Kazakhstan may become financial and trade center of Eurasia

"I see Kazakhstan's striving for economic progress. It has great potential and favorable geographic position.  This is the real chance to become the Eurasian trade and financial centre," Jacob Frenkel noted.

According to him, Kazakhstan's economy demonstrates rapid growth. The Government intends to pursue the right economic policy, as the future of the country depends on the future of the economy, which is interdependent with the right policy.

In addition, he shared his thoughts on the state of the global economy. According to Jacob Frenkel, "the situation in Europe is not so optimistic. On the one hand, it is Germany with low unemployment, but a very high balance of payments surplus, on the other hand, Greece with negative economic growth, and Spain where unemployment exceeds 20 percent."

"Economic growth in the U.S. is about 2%. This suggests that a new recession is not expected. In other countries the situation is also positive - Asia continues to develop, China and India also show good economic growth," Jacob Frenkel concluded.