Kazakhstan rapidly recovering from crisis – EBRD banker

    Kazakhstan’s economy is rapidly recovering fr om global crisis of 2008-2009, Business Group Director for Southern and Eastern Europe and the Caucasus of the European Bank for Reconstruction and Development (EBRD) Olivier Descamps told journalists in Astana on March 13.
    Serious problems remain however, he added. The bank’s experts believe one way for Kazakhstan to develop successfully in the future is to support women entrepreneur.
    The leading EBRD experts, specializing in the countries of Central Asia, came to Astana to deliver an EBRD report on Central Asian economies. The 155-page report was titled, Crisis and Transition: The People’s Perspective. It gives details on how the crisis of 2008-2009 affected people in countries with economies in transition, including Kazakhstan.
    Olivier Descamps, whose is also EBRD managing director for Turkey, Eastern Europe, the Caucasus and Central Asia, stressed, “the EBRD views Kazakhstan as a success story. The country has excellent potential, but also a few crossroads ahead, wh ere it will have to choose the way its business sector will develop.”
    He noted Kazakhstan remains the leader in Central Asia in terms of completing the process of transition to a market economy, according to Kazakhstan's MFA.