Experts' opinions on priorities of new economic policy course

02.09.2022, 14:48

Departure from state capitalism and excessive state intervention in the economy, development of competition, as well as fair distribution of national income - all these are steps towards the further growth of Kazakh citizens’ well-being. Expert from the Institute of World Economics and Politics gave an assessment of the priorities of the new economic course, announced by Kassym-Jomart Tokayev in his state-of-the-nation address.

“Those economic reforms that were presented in the state-of-the-nation address have a systemic character. This is a tax reform, a budget reform, and a number of other areas that have a systemic structural nature. In particular, through the implementation of these reforms, we will solve the most pressing economic issues of the population, such as inflation, rising food prices, insufficient level of salaries, as well as underdeveloped production and industry. We will solve these problems through these reforms,” said Arman Toktushakov, expert of the Institute of World Economics and Politics, said.

According to the analyst, Kassym-Jomart Tokayev paid a special attention to business support.

“The president clearly outlined the trend that it is essential to support business as well as to develop fair and transparent rules of the game in this field. The President noted that in terms of price regulation, a special policy will be adopted that will allow for the country’s gradual withdrawal from the state regulation. This will create additional opportunities for businesses, so that they could pursue an appropriate quality economic policy to saturate the domestic market with appropriate food products,” added Toktushakov.