"Russian business is being flooded with money". MP urged to save Kazakh producers

Mazhilis deputy Amanzhan Zhamalov said that after the introduction of sanctions to develop import substitution Russian business is flooded with money. Because of this, Kazakhstan's commodity producers may go bankrupt, the correspondent of Tengrinews.kz reports.

"Russia has adopted an urgent package of measures to support its business and industry. Another import substitution policy has been adopted. Preferential financing is being increased. Russian business is literally being flooded with money.

On the one hand, it is good for the Kazakhstani people who will be able to buy cheap Russian goods. But on the other hand - we have our own goods and businesses in Kazakhstan, where our citizens work and receive salaries. All of them will suffer from growing Russian imports," Zhamalov pointed out in a parliamentary request to the prime minister.

The MP noted that most Kazakhstani businesses have loans. If they lose market and income, they will inevitably go bankrupt.

"The banks will start making claims, seize collateral, sell off the equipment. Again, all the equipment will go to Russia. Then we will not be able to restore our production," the MP warned. Source: https://tengrinews.kz/kazakhstan_news/rossiyskiy-biznes-zalivayut-dengami-deputat-prizval-spasti-466371/

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