Kazakhstan to overcome middle income trap

ASTANA. KAZINFORM "Those directions President of Kazakhstan Nursultan Nazarbayev pointed out in his Nurly Zhol Address to the Nation will let the country overcome the middle income trap and create a necessary climate for the development of private investments in the country," Prime Minister Karim Massimov said on Friday in Astana.
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"It is essential to pursue a countercyclical budgetary policy amid the turbulence, when the global economy staggers and many prices for raw mineral resources beat historic low," Massimov said addressing the VI Economic Forum of National Business "Expert -200-Kazakhstan". He stressed that Kazakhstan allocates additional resources to spur the country's economy and create additional conditions for its development. "Еhe second stage is to continue restructuring. We carry out those structural reforms along with the WB, EBRD, ADB, IDB and OIC. I think all of this will let Kazakhstan overcome the middle income trap and create a necessary climate for the development of private investments in the country," he stated.

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