Kazakh Prime Minister Outlines Tasks to Improve Social and Economic Development

ASTANA – Kazakh Prime Minister Alikhan Smailov outlined the main priorities for this year, focusing on the country’s social and economic development and measures to improve the quality of life in the country at an April 4 expanded government meeting, the first one after Smailov’s reappointment,  reported the Prime Minister’s press service.

Photo credit: Prime Minister’s press service.

Addressing the measures to implement President Kassym-Jomart Tokayev’s directives, given at the first session of the Kazakh Parliament, Smailov emphasized the need to boost economic growth, lower inflation, increase investments, and modernize infrastructure.  

“The country needs to increase its economic growth rate to 4 percent this year and 5 percent in the medium term. The economic policy should first and foremost prioritize the development of entrepreneurship and the inflow of significant volumes of domestic and foreign investments to the key sectors of the economy,” said Smailov.

He noted that particular attention should be paid to measures to reduce inflation by half by year’s end, develop export potential and new technologies, and improve legislation.

“The government faces the task of ensuring a real increase in wages of the population, considering inflation at the level of 4.6 percent. In addition, unemployment should fall to 4.8 percent,” the Kazakh PM said.

Following the meeting, Smailov instructed the country’s Foreign Ministry and relevant state agencies to conduct a detailed analysis of systemic problems in attracting investments.

“You should make specific proposals within a month to eliminate them,” said Smailov.

He added that tax administration should be based on the risk management system, and control should be digitized as much as possible.

“The government and the Prosecutor General’s Office have developed a draft law on the return of illegally acquired and withdrawn assets. Its main goal is to restore social justice in society. The Ministry of Justice should ensure that the draft is submitted and adopted in Parliament promptly,” Smailov said.

The Prime Minister also emphasized that the government should apply new approaches to curb rising food prices for socially significant food products. He proposed to eliminate unproductive intermediaries, actively use forward purchases, and expand enterprises’ access to credit funds.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!