Nazarbayev speaks of economic situation in Kazakhstan

By  Trend

President of Kazakhstan Nursultan Nazarbayev has spoken about the economic situation in the country, Trend reports with reference to the Kazakh media.

"Despite the very high turbulence in the world economy, sanctions confrontation and trade wars, our economy has shown growth of more than 4 percent – this is above the world level," he said in an interview.

Nazarbayev noted that inflation remained in the range of 5-7 percent.

"The country's gold and foreign exchange reserves have increased and reached $88 billion – this ensures a stable activity of Kazakhstan in case of crisis. Three months ago, a barrel of oil cost almost $80, and now it is below $60. We have to work in such conditions," he added.

The president also noted that Kazakhstan introduced 100 new production facilities in 2018, and a total of 1,200 facilities presently operate.

"As many as 550,000 people got jobs. In general, the economy can also be considered normal. Our government, regions and the executive power have done everything they needed to do. We have a goal, a direction where we should go, and we make our way towards it," Nazarbayev said.