Economic policy

Government open to input from business community in shaping new economic policy, says Kazakh PM

NUR-SULTAN – The government will consider business proposals when developing a new economic policy, Kazakh Prime Minister Alikhan Smailov said during an August 5 meeting with the council of national entrepreneurs and representatives of the National Chamber of Entrepreneurs of Atameken, the Prime Minister’s press service. reports.

The Kazakh prime minister addressed the draft economic policy during the August 5 meeting with business representatives via video conference. Photo credit:

The draft strategy, drawn up on the initiative of the Head of State, envisages greater economic freedom and diversity, increased export potential and increased labor productivity.

“I want to reiterate that the corporate sector will take the lead in implementing the transformations. Together with the business community, the government will continue to improve business conditions and lay the foundations for our country’s economic growth and development, thereby improving the well-being of our citizens,” Smailov said.

“We want to emphasize the development of entrepreneurship. At the same time, all other areas are also structured and reflected in this document,” he added.

Regarding the reform of the system of agricultural subsidies, Smailov noted that all budget expenditures are being reviewed to maximize their efficiency.

“We need to direct the money to something that will stimulate productivity growth among agricultural producers. These are investment grants, cheaper interest rates on loans, we want to make them even more affordable. We do not want to cut funding for agriculture, on the contrary, we want to increase it while benefiting the economy and the country,” he said.