ASTANA, October 20 (RIA Novosti) - The government of Kazakhstan will inject $15 billion in the economy by late 2008 to cope with the effects of the ongoing global financial crisis, the Kazakh prime minister said on Monday.
"An additional $15 billion will be injected into the economy by the end of the year or about 15% of the country's GDP," Karim Masimov said during a telephone conference with the country's regional heads.
The current global credit crunch started in the United States and quickly spread to Asia and Europe leading to record losses on global financial markets, rising interest rates and a liquidity shortage.
Masimov said these funds would help the energy-rich republic make a new leap at this stage and neutralize the implications of the global financial crisis.
