SMEs suffer over $232M damage from riots in Kazakhstan

Representatives of small and medium-sized enterprises (SMEs) in Kazakhstan suffered damage exceeding 100 billion tenges (over $232 million) as a result of the unrest

Representatives of small and medium-sized enterprises (SMEs) in Kazakhstan suffered damage exceeding 100 billion tenges (over $232 million) as a result of the unrest, Kazakh President Kassym-Jomart Tokayev said during an expanded government meeting, Qazet.az informs citing Kazakh media.

“The January events radically changed our lives. Many Kazakhs suffered because of the riots. Small and medium-sized businesses sustained losses,” he said.

He noted that the new government faces the task of stabilizing the country’s economy and reducing inflation.

Tokayev added that the country’s economy grew by 4% last year, and inflation exceeded the threshold level, reaching 8.4%.