Crucial to take effective measures to reform world financial architecture, President
18 June 2011 17:48

Crucial to take effective measures to reform world financial architecture, President

SAINT PETERSBURG. June 18. KAZINFORM /Muratbek Makulbekov/ "It is crucial to take stringent measures for soonest reforming of the world financial architecture," Kazakh President Nursultan Nazarbayev said on Saturday addressing the plenary sitting of the 15th St Petersburg International Economic Forum.

"Resources and food challenges broke out sharply in the post-crisis era. Currently, above 4.2% of the world GDP fall on oil expenses that is more than historically average 3%.

Above 1 billion people are facing famine today. The large scale food crisis poses a threat."

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