Kazakhstan improved general economic condition in 2000 - the government

/IRBIS, Jan 22, 01/ - REUTERS informs, with the reference to the government resources, that preliminary results of social and economic development of Kazakhstan in 2000 shows an improvement in general and financial situation in the country. It is said that GDP growth equaled 9.6% in the year 2000, industrial production - 14.6% relative to previous year. In mining industry growth was at 21.5%, processing industry - 15.6%, generation and transmission of electricity, distribution of gas and water - 5.5%. Kazakhstani companies have signed contracts for $177 mln under imports substitution program and produced $136.9 mln worth of products, is said. Investments into fixed assets increased by 29.4% relative to last year, at KZT159 bln and external trade increased by 56.7% due to a growth of exports by more than 1.7 times. The latter is said to positively affect the country's currency and financial markets. In January-November 2000 trade balance equaled $3.733 mln relative to $1.464 mln in similar period of 1999. Official refinancing rate is said to have reduced by the National Bank down to 14% from 18% APR. Financing of commercial banks equaled KZT251.7 bln as of December 1, 2000, or 7.9% increase relative to previous month. The government also notes that the inflation was lower this year compared to the last year, at 9.8% against 17.8% of 1999. The state budget revenues at KZT587 bln, or 8.3% more than planned, whereas revenues equaled KZT393 bln last year. Average per capita income in real terms grew by 5.9% during the year 2000, while it grew 4.4% in 1999, in nominal terms - by 19.8% (12.8% in 1999)