Nazarbayev allowed the cost of oil to $ 30–40

President of Kazakhstan Nursultan Nazarbayev admitted that oil prices can decrease to $ 30–40 per barrel. This is reported on the presidential website , he stated at a meeting on economic policy.

Referring to the opinions of experts, the head of the republic noted that low oil prices and metals can be preserved for five years. Among other factors that can negatively affect the country's economy, he called the reduction in the market for Kazakhstani products due to low demand from the main partners-Russia and China.

Nazarbayev emphasized that the state should adapt to these conditions. “In previous years, we built a lot, increased states and levels of wages. However, now there is a lack of funds, in this regard, the costs of new projects will be strictly limited ... Therefore, it is necessary to establish a moratorium on various initiatives until 2018, ”he said.

The budget of Kazakhstan, as previously reported , was prepared based on oil prices at $ 80 per barrel in 2015. At the same time, the Ministry of National Economy developed forecasts at a price of $ 70, 60, 50 and 40 per barrel.

World oil prices fall over the past months. According to August 19, Brent barrels are traded below $ 49.