WEEKLY REVIEW. Kazakhstan's economy becomes less dependent on energy prices
On Monday, September 26, President Nursultan Nazarbayev received Prime Minister Karim Massimov, who informed of the pace of the country's economic development, implementation of the program of forced industrial innovative development, realization of social programs.
Speaking at a roundtable in the Majilis on Monday Kazakh Minister of Economic Development and Trade Kairat Kelimbetov informed that the international reserves of Kazakhstan exceeded USD 76 billion.
"Despite the fact that during the crisis the money of the National Fund was used to support the economy, the amount of funds in the National Fund has doubled since 2007," Kelimbetov said.
According to him, the current amount of funds in the National Fund exceeds USD 40 billion. Kazakhstan will sustain economic growth even if the world oil prices fall below USD 40. Under the pessimistic development scenario Kazakhstan's GDP will grow by 3-4 percent.
On Tuesday, September 27, the Government held a telephone conference. Agriculture Minister Asylzhan Mamytbekov informed that Kazakhstan already threshed 12.8 mln ha of grain. This year it is planned to reap 16.2 mln ha of grain the countrywide. 12.8 mln ha of grain or 79% of cropping area have been threshed. Thereat, the average grain yield hits this year 15.8 centner/ha that is 7.1 centner/ha is more against the 2010 figures.
The government delegation headed by Deputy Prime Minister - Minister of Industry and New Technologies Asset Issekeshev visited newly built Moinakskaya hydroelectric power plant in Almaty region, which should be launched in a few months. The plant will be the first energy generating facility put into operation during the years of independence, and the fifth most powerful hydroelectric plant in Kazakhstan. Its design capacity is 300 MW. The plant has been built on the instructions of the Kazakh President. After it is put into operation the average annual output of electricity in the country will be more than 1 billion kWh. In this regard the problem of handling daily high peak loads in South Kazakhstan will be solved. This will ensure the country's independence from energy imports from Central Asia.
On the same day, during the forum of China-Kazakh business circles, held in Astana, several bilateral documents were signed. Among them was the agreement on technical assistance as grant assistance to the Government of Kazakhstan from the Government of PRC.
On Wednesday Kazakh Prime Minister Karim Massimov held a sitting of the republican budgetary commission to consider the results of the analysis of regulatory legal acts reducing revenues and increasing expenditures of the republican budget.
Kazakh Deputy Prime Minster - Industry and New Technologies Minister Asset Issekeshev paid a working visit to Pavlodar region. He took part in the opening ceremony of the international exhibition "Kazakhstan-Siberia 2011" and the plenary session on "Regional development: new mechanisms for sustainable development".
Besides, Issekeshev visited industrial enterprises of the region, met with the regional authorities to debate the implementation of the President's state-of-the-nation address.
On Thursday, September 29, a governmental group headed by Minister of Industry and New Technologies of Kazakhstan Asset Issekeshev went to Karaganda region. The Minister together with Akim of the region Serik Akhmetov visited a number of industrial facilities and the production launch ceremony at Kazplast LTD. In addition, Issekeshev visited the exhibition of Karaganda Engineering Consortium and held a sitting on implementation of Kazakhstan's engineering industry development program for 2010-2014.
The Ministry of Foreign Affairs held a visiting session of the Senate's Committee on Foreign Affairs, Defense and Security. Within the event Foreign Minister Yerzhan Kazykhanov made a report on implementation of main directions of Kazakhstan's foreign policy.
"Over 20 years our young state reached significant success in foreign policy," he said. The Minister informed that Kazakhstan established diplomatic relations with 138 states, opened 73 foreign representation offices. Diplomats from 107 foreign states and representatives of regional and international organizations are accredited in Kazakhstan.
On Friday, September 30, Kazakh Minister of Labor and Social Protection Gulshara Abdykalikova spoke at the international conference "Social modernization - new social policy." According to her, reduction of social benefits is not expected in the coming years, their indexation will be carried out despite the situation in the world economy.
"At present the Parliament considers the national budget for 2012-2014. Last year expenses made KZT 800 bln, this year - KZT 1 trln, in 2012 expenses will make KZT 1.280 trln. Indexation of all welfare payments will be carried out, there are no intentions to reduce social benefits to pensioners, invalids and other categories," the Minister said.