Masimov tells Economy Ministry to develop Two Economic Development Scenarios
Prime Minister of Kazakhstan, Karim Masimov, at a government session yesterday assigned the Ministry of Economy and Budgetary Planning of Kazakhstan to develop two economic development scenarios, Kazakhstan Today reports.
"I would like to assign the Ministry of Economy along with Samruk-Kazyna within a month to consider two scenarios for economic development and their influence on the economy of Kazakhstan," Masimov said.
He explained, "The first scenario is the economy gradually stabilizes, prices for oil are in the range of $60 - 70 per barrel, prices for the main crude metals we export, remain at the current range -- this is the positive scenario.
"The second scenario will be that worldwide, the second wave of the crisis hits, which for us, will be the third, in August. Oil prices return to $40 per barrel with all the related consequences," he stated, according to Kazakhstan Today.