Financial crisis has been for long, but economic crisis has just started

Almaty. January 29. Kazakhstan Today - The Chief Economist and Rector of Political department of the Institute of Directors (IoD), Graeme Leach, said that the financial crisis has been for a long time, but the economic crisis has just begun, the Guardian writes in connection with opening of the World Economic Forum in Davos, the agency reports citing inopressa.ru.

According to the edition, the world leaders who gathered in Davos, will see a gloomy picture. Philips, Pfizer, Caterpillar and Corus have joined the list - only yesterday in the USA and Europe 80 thousand work places were reduced or have been under the threat of cut down.

As informed earlier, the President of Kazakhstan, Nursultan Nazarbayev, arrived in Switzerland to participate in the World Economic Forum.

This year the main attention at the World Economic Forum in Davos will be drawn to the governments, instead of banks and hedge-funds.

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