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President: Kazakhstan to reduce state assets

Business Materials 10 September 2013 14:44 (UTC +04:00)

Azerbaijan, Baku, Sep. 10 / Trend E. Kosolapova/

Kazakhstan will continue reducing state assets, the country's President Nursultan Nazarbayev said on Tuesday, Novosti-Kazakhstan reported.

"The 2008 crisis forced the government to play a more active role in the economy. We were forced to tap into the assets of our banks which experienced great difficulties. Meanwhile the strengthening of market mechanisms has no alternative for the long term and we leave these assets," Nazarbayev said during the Eurasia 2013 Emerging Markets Forum under the theme 'Through Renewal to Leadership'.

According to Nazarbayev, the share of state ownership in the industrial and infrastructure facilities is decreasing and this process will continue.

"First of all, it is important to ensure the most favourable environment for strengthening the entrepreneurial class," he said.

The Emerging Markets Forum has been holding meetings all around the world since 2005. Seven international and 11 regional gatherings of the forum have been held since its creation. The Astana meeting is a regional session. Its theme reflects issues of high priority in the emerging markets of countries.

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