Positive surplus of current balance of Kazakhstan in the I half of 2000 - $594 mln

/IRBIS, Oct.3, 00/ - REUTERS informs, with the reference to the chairman of the National Bank, Grigorii Marchenko, that the country's balance of its current operations in the I half of the year 2000 equaled positive $594 mln, or 7.9% of GDP against $621 mln deficit in comparable period of 1999. He said that it is the highest figure in the history of the country. The bank chairman said that the trade balance of the country reached about $1.3 bln in January-June, 2000 due to high growth rates of the exports as a result of favorable prices and restoration of external demand for the Kazakhstani products. Previously, the National Bank informed that trade balance deficit during the I half of last year had been at $457.1 mln. It is said that positive balance of the transactions with the capital and finances equaled $292 mln ($348.6 mln in similar period of last year) due to the fact that the Kazakhstani companies were actively repaying their international debts due to their increased liquidity. The National Bank informed that despite a more than billion dollar direct investments, net direct investments equaled only $371 mln due to the debt settlement payments made to parent companies. Previously, Mr. Marchenko said that positive balance of current accounts would equal 5% of GDP compared to negative 1.1% of GDP in 1999. The National Bank is said to keep the statistics of the country's payment balance and announces it three month delay.