In the case of oil prices fall Kazakhstan will be able to "hold out painlessly for 2 years"

29.11.02 00:00
/Kazakhstan today, November 29, 02/ - In the case of oil prices fall to $10 per barrel, "we will be able to hold out painlessly for 2 years". President of RK Nursultan Nazarbayev informed about it during the business-forum "Kazakhstan - attractive market for investments and trade", held in Hague on November 28. In the case of possible crisis, said the head of the state, the part of the National fund, which accounts for more than $2bn, will go to stabilization of the economy. In addition, N.Nazarbayev mentioned about creation of Development bank of Kazakhstan for financing "socially-important projects" in non-resources sector of the republic. [2002-11-29]