New-old government formed in Kazakhstan.

By bne IntelliNews September 26, 2012
Kazakh president Nursutlan Nazarbayev approved the new government formed by PM Serik Akhmetov appointed on Sep 24. There were almost no changes in the cabinet. The only new minister is Yerbolat Dosayev who is responsible for economic and trade. Kairat Kelimbetov and Yerbol Orynbayev retained their posts as deputy PMs. Similarly, Asset Isekeshev remained at the post of deputy PM and minister of industry and new technologies. At the same time, presidents press secretary Dauren Abayev informed that foreign, labor and social welfare minister will be appointed later. At the same time, it remains unclear whether the post of first deputy prime minister (previously held by Serik Akhmetov) will exist in the new government. The governments changes in Kazakhstan did not influence S&Ps opinion about the country. The Agency said that the ratings and outlook on Kazakhstan are unchanged at BBB+/Stable/A-2. At the same time, the agency noted the risk which came from the lack of the clarity surroundings the eventual transition of political power in Kazakhstan. Significantly, the new government will continue the current course of economical policy which includes cooperation with Russia, China and the West. We also assume that the new PM will be more focused on implementation of the New Silk Road, as Akhmetov promoted the idea when holding post of transportation and communication minister in 2006-2009. The New Silk Road project assumes construction of new transportation infrastructure between China and Europe, across Kazakhstan. At the same time, the main tasks of the government is to implement reforms aimed at fulfilling social modernization which is Nazarbayevs top priority and industrialization of the country.

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