BAKU, Azerbaijan, October 28. Kazakhstan’s
President Kassym-Jomart Tokayev has proposed declaring 2027 the
Year of Large-Scale Nationwide Construction in his Address to the
People of Kazakhstan, according to the presidential press
service.
He said that construction and renovation of civilian
infrastructure should begin in every regional center, district and
settlement across the country.
"Thus, our common nationwide response to the approaching era of
artificial intelligence is to build, and build again!" Tokayev
said.
He noted that the initiative would include the construction of
roads, airports, railway stations and healthcare facilities,
including rehabilitation centers for children with special needs.
Houses of creativity, sports complexes, libraries and research
centers should also be built in all regions. Housing construction
would remain an important task.
Tokayev stressed that improving public welfare is enshrined in
the Constitution as a strategic priority of the state. He said the
initiatives were being undertaken for the benefit of the country,
particularly the younger generation.
The president also highlighted the need to improve the quality
of public administration. He noted that significant budget funds
were being allocated to infrastructure modernization,
digitalization and industrial development, alongside private
investment.
"Within the framework of large-scale construction, it is
extremely important to carefully select projects, work with
reliable companies and closely monitor every stage of
implementation," he said, adding that the state apparatus must be
prepared to carry out these tasks professionally.
Tokayev also called for a carefully considered macroeconomic
policy, noting that the government had comprehensively revised the
budget and tax systems in recent years. He said the effectiveness
of state policy should primarily be assessed by its impact on
citizens' welfare and economic activity.
"Our most important goal is to increase the income of the
population. To achieve this, we must first and foremost
systematically combat inflation," Tokayev said.
Describing inflation as a "silent enemy" that erodes citizens'
well-being day by day, he noted that although price growth had
slowed somewhat, inflation remained high. He called on the
government and the National Bank of Kazakhstan to coordinate their
efforts to curb and reduce inflation.
The president also urged the government to pursue a prudent
budget and tax policy and create favorable conditions for
strengthening the economy's production capacity and increasing
business productivity.
Tokayev further called on financial market regulators to perform
their duties effectively, noting that Kazakhstan's financial system
remained relatively stable.
According to him, the country's banks have more than 75 trillion
tenge in assets, while deposits have reached a record 52 trillion
tenge. He added that 78% of deposits were held in the national
currency, which he said reflected the growing value of the
tenge.
Tokayev said the next important task was to channel accumulated
financial resources into the development of the real sector of the
economy. He also called on the National Bank to contribute to
initiatives that support economic development alongside its
responsibilities for maintaining price and financial stability.
