ASTANA – The employed youth will make up 80 percent of Kazakhstan’s labor force by 2030, said State Social Insurance Fund Managing Director Nursulu Kemel during a Sept. 23 public awareness campaign in the Zhambyl Region, reported the Kazakh Labor and Social Protection Ministry.
According to Kemel, nearly 300,000 young people reach working age each year, making up 60 percent of the working-age population in the country today.
She pointed out that young people can benefit from microloans at a 2.5 percent interest rate, one of the measures outlined by President Kassym-Jomart Tokayev in his state-of-the-nation address on Sept. 1 as part of an effort to increase opportunities for young people to start their own businesses.
Kemel also mentioned an average 13 percent increase in social payments in case of job loss beginning Jan. 1, 2023. She said that these measures will be included in the draft Social Code of Kazakhstan aimed at improving the social insurance system.
The document also called for an increase in the basic pension and a raise in the maximum income for calculating solidarity pensions, which is expected to ensure a 27 percent increase in aggregate pensions by 2025.