Kazakhstan's economy starts reviving after hitting rock bottom - ministry.

ASTANA, August 18 (Itar-Tass) -- The economy of Kazakhstan has started reviving after the downfall of its indicators dropped to the rock bottom, Kazakhstani Minister of Economy and Budget Planning Bakhyt Sultanov said during Tuesday's meeting of the government.

"In contrast to other countries, Kazakhstan did not enter technically
into the recession stage, when the crisis began," he said.
"We registered an industrial decline only in January-March 2009,"
Sultanov said, adding, "In April-June, the country's industry grew by
three percent as compared to the first three months of the year."
"Therefore, we can say that the Kazakhstani economic indices hit to
the rock bottom in the first half of the year, and now take the road to
recovery," the minister stressed.
In his words, "Kazakhstan's Gross Domestic Product [GDP] in real terms
decreased by three percent in the first half of the year, as compared to
the same period of 2008."
In the meantime, Sultanov is confident that "an active implementation
of anti-crisis steps at all levels and pooled efforts of local authorities
in employment programs against the background of the remaining unchanged
domestic and external conditions will make it possible to guarantee a
0.1-0.4-percent GDP by the yearend."
Kazakhstani Prime Minister Karim Masimov spoke at the government
meeting. He confirmed that the economic reversal occurred in fact in
Kazakhstan in March-April. "We can speak about economic growth in
April-June," the prime minister noted.
-0-usn/yer