BAKU, Azerbaijan, June 30. Transition to a new
economic model is a strategic task of special importance for
Kazakhstan, the press service of the President of Kazakhstan
reported.
President Kassym-Jomart Tokayev made the remarks during the
final joint session of the chambers of Kazakhstan’s Parliament.
“To address this task promptly, it is necessary to develop new
approaches and new positions. It is obvious that previous methods
of work will not be effective,” Tokayev said.
He noted that the global and international situation continues
to deteriorate year by year.
“We face numerous conflicts and challenges. Nevertheless, we
pursue a balanced policy and move forward with confidence. We will
continue to follow this course,” Tokayev said.
The president noted that Kazakhstan’s economy grew by 6.5
percent last year, which he described as a strong result against
the backdrop of global economic trends.
According to Tokayev, Kazakhstan’s GDP exceeded $300 billion for
the first time in history, while GDP per capita has increased by
one and a half times since 2019 to reach $15,000, one of the
highest figures among CIS countries.
“We have managed to slow inflation: over the first five months
of this year it declined to 10.4 percent. But it is necessary to
continue efforts to reduce this figure. Stability of the country’s
financial system has been ensured. The national currency remains
reliably protected from external risks,” the president said.
Tokayev added that the most pressing issue at present is the
National Bank’s base interest rate and stressed that this issue
requires a balanced approach.
“The new Budget and Tax Codes adopted by you have fully reset
the entire economic system and changed the approaches to public
finance management. Thus, the foundation has been laid for the
formation of a new model of Kazakhstan’s economy,” he said.
