Kazakhstan in September will update a bailout plan for tougher sanctions against Russia

Almaty. August 6. Silkroadnews - Ministry of Economy and Budget Planning of Kazakhstan in September this year will update anti-crisis plan in case of further tightening of sanctions against Russia and the deterioration of the situation around Ukraine, reports KazTAG with reference to the Minister of Economy and Budget Planning of RK Erbolat Dosayev.
"We have a separate plan of action in case of the introduction of further sanctions against Russia and the deterioration of the situation around Ukraine. This plan will be updated in September of the current year", - he said.
E. Dossaev noted that "the ongoing crisis in Ukraine and Russia slowdown in economy to 1% in the first half had its negative impact on the demand for Kazakhstan's products".
"Thus, in January-May this year, exports to Russia fell by 21.7% and to Ukraine fell by 31.1%. GDP growth for 6 months in 2014 was 3.9%", - said the Minister.
He noted that the fall in industrial production in January-June was 0.4%, including oil production declined by 1.6%, the production of non-ferrous metals - by 13.5%.
However, the production of ferrous metals increased by 12.9%, construction materials - by 8.1%.
Overall, GDP growth is provided by domestic demand.