Kazakhstan sees positive trends of sustainable economic growth - D. Bochkarev

"General positive trend of sustainable economic growth is observed in oil and gas sphere, as well as in adjacent sectors of the national economy. However, unlike other CIS countries - exporters of hydrocarbons (such as Russia and Turkmenistan), Kazakhstan has not been affected by lowered spot prices on gas or by reduction in gas consumption in Europe," D. Bochkarev noted.

The positive trends have also been registered in the overall macroeconomic stability of the country. So, in 2011, the positive trade balance ammounted to USD 47.3 billion, and the current account surplus of the foreign balance made USD 14 billion. In August 2012 the total international reserves of Kazakhstan grew by 1.9% to USD 83.8 billion.

Furthermore, Mr. Bochkarev stressed that GDP growth in Kazakhstan was stable in January-August 2012, the economy grew by 5.6%. Moverover, the sharp drop in oil and gas production and smelting of ferroalloys, which occurred in August, almost unaffected the key sectors of Kazakhstan's Industry - non-ferrous metallurgy, machinery and electricity.

Certain problems remain in such areas as healthcare, innovations in the non-energy sector, the overall competitiveness of Kazakhstani companies. However, in Kazakhstan there is a positive trend of sustainable economic growth,"  the expert of EastWest Institute concluded.