Government expects GDP growth at level of 4-5% in 2011

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ASTANA. January 18. KAZINFORM /Kanat Kulshmanov/ Kazakhstan raises the GDP growth 2011 forecast to between 4 and 5 percent.

Minister of Economic Development and Trade Zhanar Aitzhanova has announced it introducing draft statement of the Government, National Bank and Agency on Regulation and Supervision of Financial Market and Financial Organizations on major directions of the economic policy for 2011.

"The economic policy conducted by the Government, National Bank and Agency on Regulation and Supervision of Financial Market and Financial Organizations in 2011 will ensure real GDP growth at the level of 4-5 percent, maintenance of the inflation rate at the corridor of 6-8 percent", Z.Aitzhanova said.

According to her, the economic policy will be directed to competitive growth of economy, implementation of programs aimed at diversification of economy, first of all, the State Program of Forced Industrial-Innovation Program, ensuring stable employment and growth of income of the population, realization of state programs, development of human capital assets, including education, healthcare and languages development.

Besides, one of main priorities will be regulation of pricing and ensuring price stability in the domestic market, primarily on the socially important food products.

"The Government will continue to take measures to improve social welfare of the population and support socially vulnerable citizens. In 2011 further growth of a salary in the public sector and social expenditures is foreseen. Taking into account increase in pension by 30 percent from January 1, 2011its minimum size will amount to KZT 24,047, the average one - KZT 36,205. This year the size of social benefits and payments, wages to public sector workers would rise by 30 percent", the Minister resumed.

This draft statement was approved at the Government's session on Tuesday.

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