Nazarbayev is confident prices for metals will grow in 2017

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ASTANA. KAZINFORM - President of Kazakhstan Nursultan Nazarbayev predicts increase in prices for metals in the next year, Kazinform reports.

"At the moment there isn't a lot of money. But I am sure that in 2017 the prices for copper, aluminum, ferrous metal and steel will rise, and our moods will be better. Today oil costs 54 dollars. We are happy with this price. There will be money, and we will spend more on industrialization, in order to develop it quicker. Our specialists know what to do and for what to spend money", - Nursultan Nazarbayev said during the teleconference today.

The President noted that the international experience showed the best developed strategies had been doomed to failure due to the lack of financing. Therefore the President considers that the resources directed to industrialization should be increased every year.

"For example, the agrarian sector gives only 5% of the country's GDP, but gets support in the amount of 4,5% of out of the budget expenses. Transport and communication give 8,3%, housing and public utilities spend 6,8% of the budget. In the meantime heavy industry and construction give 16% of the GDP and receive only 0,6% of the budget expenses", - Nursultan Nazarbayev said.

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