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Measures on non-admission of occurrence of real estate market bubble to be undertaken

02.02.2010 2233

Astana. February 2. Kazakhstan Today - Kazakhstan needs to undertake some measures not to admit occurrence of the real estate market bubble in the process of overcoming of the financial crisis in the country. The Prime Minister of Kazakhstan, Karim Masimov, said during the expanded session of the board of the Agency for Construction and Housing and Communal Services, the agency reports.

"The lion's share of time for the last 2,5 years, the executive and local executive bodies have spent for solution of those issues we have had during the previous years in connection with the construction market bubble," K. Masimov said.

The Prime Minister has assumed that "when the crisis is over and financial resources will come to Kazakhstan, there is a big chance that this story may repeat again. The banks may again start to excessively finance the construction sector, the price will go up again, and the problem may repeat."

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