About 70% of business in Kazakhstan is about go bankrupt, said President of Chamber of Commerce and Industry Yerlan Kozhasbay at conference "Crisis and ways to overcome them," initiated by Chamber of Commerce and Industry on February 10, 2009.
"According to estimates by various experts, about 70% of businesses came close to bankruptcy. There is no such devastation of small and medium-sized businesses in developed countries, despite the crisis. In these countries, large business corporate collapses and small and medium businesses stay afloat," said Kozhasbay.
“Meanwhile Kazakhstan is trying to save big business. We all know that GDP growth in Kazakhstan has depended on foreign loans. From 1999 to 2007 more than 80% of the gross domestic product was created. Reduction of external borrowing led to a slowdown in GDP growth and the outflow of foreign loans, which means that there is a threat of collapse of economy," said Yerlan Kozhasbay.
President of CCI thinks that the banking sector needs to coordinate with the business community to determine further actions. In addition, it is necessary to recognize the bankruptcy of failed projects. "Debt is increasing as these projects do not repay the banks. The first step is to stop the progressive debt and write off of losses of failed projects," concluded Kozhasbay.
Trump calls those who consider him a friend of Russia "sick"
5,000 semi-literate mullahs in Tajikistan registered with law enforcement bodies for fanaticism
Germany orders shutdown of all Iranian consulates
Russian official calls to end enrollment of migrant children in schools without Russian language proficiency
In Dushanbe, three men rob apartment while disguised as repair workers
Tajik journalist launches environmental campaign under support of the EU Delegation to Tajikistan
Official employment in South Korea: worker dispatch could begin in 2025
Government discusses measures to implement the law on the state budget for 2025
Tajikistan draws investor interest in mining and metallurgy
New small hydropower plant to launch in GBAO’s Darvoz district
All news
Авторизуйтесь, пожалуйста