ID :
21502
Sat, 09/27/2008 - 11:50
Auther :
Shortlink :
https://www.oananews.org//node/21502
The shortlink copeid
Anti-crises measures prove their effectiveness
Moscow, 26 September 2008, (Khabar) - The anti-crisis measures that were taken by Kazakhstan authorities are proving their effectiveness. This year the situation with the cash position in banks has considerably improved, the economy continues to grow and foreign investments are returning to the republic.
Russian analysts think that Russia, while developing its own measures for stabilizing its economy, should study the experience of its southern neighbor.
The worries of the union of experts are quite explainable. The situation that the Kazakhstani financial system faced last
year is now gathering steam in Russia. The main issue that analysts are
worried about is whether Russia can overcome the financial crisis with
minimal losses like Kazakhstan did. The Russian information agency "Novosti"
has invited specialists from Kazakhstan to join in the discussion. In
particular, the deputy chairman of the National bank of Kazakhstan, Daniyar
Akishev, told about measures that the government has taken to support its
banking sector. In the thick of the crisis commercial banks received
short-term loans amounting to forty billion US dollars and then, under the
decision of the president of the country, the financial institutions were
allocated another four billion US dollars for continuing programs they had
started. According to the banker, the country is living in a mode of limited
access to foreign loans. And in some measure it is playing into their hands,
as the sharp decrease in the world financial markets recent months, which
seriously influenced Russian companies, did not influence Kazakhstan in a
serious way. Russian experts think that that one of the strongest
stabilizing systems of Kazakhstan is the pension system, which makes up
about 14% of the GDP. According to the head of the Strategic Developments
Center, Mikhail Dmitriyev, these funds do not search for fast income and
think only about the future, so the crisis does not create a problem for
them. But in Russia, the pension system makes up only 2% of the GDP and can
not seriously influence the economic situation of the country. But the most
important thing, according to Russian experts, is that Kazakhstan has a
favorable investment climate which is based on political and economic
stability, international harmony and clearness of economic direction.
Mikhail Dmitriyev, head of Strategic Developments Centre:
- The way that Kazakhstani authorities were solving problems in the
financial sector is a very good example for us. Russia should also absorb
the Kazakhstani experience. Kazakhstan was able to cope with the financial
crisis very fast due to the fact that investors perceived Kazakhstan as a
country that is very friendly for business. According to many
characteristics, Kazakhstan has a higher place in world ratings than Russia.
Russian analysts think that Russia, while developing its own measures for stabilizing its economy, should study the experience of its southern neighbor.
The worries of the union of experts are quite explainable. The situation that the Kazakhstani financial system faced last
year is now gathering steam in Russia. The main issue that analysts are
worried about is whether Russia can overcome the financial crisis with
minimal losses like Kazakhstan did. The Russian information agency "Novosti"
has invited specialists from Kazakhstan to join in the discussion. In
particular, the deputy chairman of the National bank of Kazakhstan, Daniyar
Akishev, told about measures that the government has taken to support its
banking sector. In the thick of the crisis commercial banks received
short-term loans amounting to forty billion US dollars and then, under the
decision of the president of the country, the financial institutions were
allocated another four billion US dollars for continuing programs they had
started. According to the banker, the country is living in a mode of limited
access to foreign loans. And in some measure it is playing into their hands,
as the sharp decrease in the world financial markets recent months, which
seriously influenced Russian companies, did not influence Kazakhstan in a
serious way. Russian experts think that that one of the strongest
stabilizing systems of Kazakhstan is the pension system, which makes up
about 14% of the GDP. According to the head of the Strategic Developments
Center, Mikhail Dmitriyev, these funds do not search for fast income and
think only about the future, so the crisis does not create a problem for
them. But in Russia, the pension system makes up only 2% of the GDP and can
not seriously influence the economic situation of the country. But the most
important thing, according to Russian experts, is that Kazakhstan has a
favorable investment climate which is based on political and economic
stability, international harmony and clearness of economic direction.
Mikhail Dmitriyev, head of Strategic Developments Centre:
- The way that Kazakhstani authorities were solving problems in the
financial sector is a very good example for us. Russia should also absorb
the Kazakhstani experience. Kazakhstan was able to cope with the financial
crisis very fast due to the fact that investors perceived Kazakhstan as a
country that is very friendly for business. According to many
characteristics, Kazakhstan has a higher place in world ratings than Russia.
