Government reported to President on 2008 results and forecast trends in socio-economic development for 2009

ASTANA. January 6. KAZINFORM Today in Almaty President Nursultan Nazarbayev has heard report of the Government and the National Bank on the outcomes of 2008 and forecast trends in socio-economic development for 2008, Kazinform has learnt from the Presidential press service.

Prime Minister Karim Massimov informed the Head of the State of the results of the country?s socio-economic development in 2008. According to the preliminary estimation, GDP growth has hit 3%. Inflation has made 9.5%. The National and local budgets have been realized by 99.5% ? in revenues, and by 99% ? in expenditures. All social obligations of the state have been fulfilled in 2008. The President was also reported on the system of measures on implementation of joint 2009-2010 Action Plan of the Government, National Bank and Financial Supervision Agency to stabilize economy and finance. It provides for certain mechanisms for realization of key anti-crisis program, including ensuring macroeconomic balance, social stability, stabilization of the financial sector, solution of the problems on real estate market, support of small and medium business, implementation of innovation, industrial and infrastructure projects as well as development of agro-industrial complex. Following up the sitting, the Head of the State gave a number of instructions to the Government in realization of a wide range of additional measures on provision of the population?s employment, support of socially vulnerable groups, solution of the equity holders? problems, accelerated realization of 30 corporate leaders program and formation of competitive and export-oriented productions, development of entrepreneurship and reduction of administrative barriers. The Cabinet was also charged to orient state purchases of state bodies and national companies on domestic producers, including small and medium business. The President particularly pointed out efficient management of the state funds allotted to support the economic stability. N. Nazarbayev highlighted the necessity to develop regional programs on employment considering peculiarities of each region, increase financing of training and re-training of personnel to meet the needs of the economy, tighten control over illegal migration and improve the quality of targeted social assistance.