Kazakhstan GDP growth in January-September exceeds 10%

/IRBIS, Oct 02, 00/ - Kazakhstan GDP growth in January-September exceeds 10%. The news was announced by the President of Kazakhstan on the meeting held in the Ministry of Foreign Affairs (MFA). The previous year figure for 9 months is 0.3% The president also reported that Kazakhstan has started shifting from stabilization policy to the policy of macroeconomic growth. The growth in industrial production amounted 16% for the period (2.2% in comparable period of 1999). The Agency for Statistic of the Republic of Kazakhstan had planned 5% growth of GDP in 2000. Then president also noted that according to experts estimations, Kazakhstan received more than 80% of total direct investments into central Asia. At the same time the President informed that investment activity of government bodies including the MFA has somewhat decreased. For instance, 1998 was marked by $1.340 bln in foreign investments, 1999 - $1.410 bln, whereas in the first six months of 2000 there were only $0.5 bln. In the last year only 4 countries invested in Kazakhstan in contrast to 13 in 1998. The president stated a task for diplomats: support development of national economy, its investment potential, export and other commercial relations. The president also made a comparison of Kazakhstan with Australia and Canada based on their sectoral structure and export base (raw materials). The president called for further development of infrastructure that supports basic industries in the country.