State role to be reinforced in all areas during the post-crisis period
Almaty. October 14. Kazakhstan Today - The state's role will be reinforced in all spheres during the post-crisis period. The President of Kazakhstan, said in his speech for the students and professors of Al-Farabi Kazakh National University on Tuesday, the agency reports.
"Market economy, private property protection, small-scale business development is the foundation of our economy. During the post-crisis period, the role of the state will be reinforced in all areas - beginning with industry and ending with the social sphere," N. Nazarbayev said.
The head of state also reminded that Kazakhstan was the first in 2007 among all CIS countries that faced the consequences of the global crisis. "We had to urgently rescue the leading banks of the country from bankruptcy because they could not pay their debts."
According to the President, "volume of the economic losses,, as a result of the global financial and economic crisis, has been $3.5 trillion."
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