Kazakh Government Presents Action Plan to Stabilize Social and Economic Situation in Kazakhstan

NUR-SULTAN – The government meeting chaired by Prime Minister Alikhan Smailov presented the action plan on Jan. 18 to stabilize the social and economic situation in the country, reports Prime Minister’s press service. 

The government building in Nur-Sultan. Photo credit: primeminister.kz

The plan, which was prepared at the instruction of President Kassym-Jomart Tokayev, contains a number of urgent and short-term measures aimed at security and comprehensive support of citizens and businesses, as well as stabilization of the social and economic situation in the country that saw mass unrest at the beginning of January. 

“During the implementation of the plan, first of all, assistance will be provided to the families of citizens, who died (in the unrest). Employees of security structures are also provided with proper support from the state. All aspects in the plan concerning the Ministry of Internal Affairs are very important and shall be implemented qualitatively and promptly,” said Smailov. 

He stressed that the citizens and legal entities affected by the mass riots are provided with the deferral in loan and micro-credit payments until the end of the state of emergency on Jan. 19. 

Meanwhile, the Atameken National Chamber of Entrepreneurs is forming a list of businesses that were looted. Smailov said the businesses will receive compensation for incurred damage from the national and local budgets. 

“Increasing people’s incomes should be the most important task. Any plan, any program should be aimed, first of all, at increasing the incomes of the people of Kazakhstan. At all levels of government, the effectiveness of the work will be evaluated according to this indicator,” said Smailov. 

During the meeting, Kazakh Minister of National Economy Alibek Kuantyrov presented an updated package of anti-inflationary response measures for the next three years. Some of the measures have been implemented, including a tariff freeze on public utilities, a ban on the export of certain goods from the territory of Kazakhstan, and a six-month ban on the export of gasoline, diesel fuel, and certain types of petroleum products.

“To continue implementing the tasks set by the Head of State, measures are planned to improve the physical availability of goods, price regulation, the introduction of state control measures, as well as systemic measures to reduce inflation,” said Kuantyrov. 

The first plank of the plan includes an increase of funding for spring fieldwork, an improvement of the mechanism for subsidizing the agricultural sector, and import substitution measures, while the second direction includes measures to prevent the rise in coal prices and a moratorium on the increase in prices for public utilities.

“If implemented, the adopted measures will keep inflation and its components at the target level while preventing a deficit of goods. The measures will contribute to the gradual stabilization of prices and improvement of the business climate, including the investment climate,” said Kuantyrov.

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