Kazakh President: ‘Earnings of about 1 million people do not even reach subsistence level’

Kazakh President: ‘Earnings of about 1 million people do not even reach subsistence level’

In Kazakhstan, by 2025, the inflation rate should be within 3-4 percent. This instruction was given by the President at an expanded meeting of the Government. Kassym-Jomart Tokayev stressed that in order to curb inflation, first of all, new initiatives to combat poverty and improve the welfare of society should be implemented. For that purpose, it is necessary to reduce the gap in the level of income of citizens. According to the President, in the past five years, the share of labor payments in the total income of the population has decreased from 80 to 67 percent. And social transfers increased from 17 to 29 percent. “This shows that the incomes of the population depend not on their salaries, but on budget expenditures. As a result, the number of people mired in debt and the poor is growing", the President noted.

“Today, the incomes of about 1 million people do not even reach the subsistence level. This is the worst indicator in the last ten years. Despite this, the Government reports that the amount of the average salary is growing. This is an illusion. I instruct to develop a program to increase the incomes of the population. This document should include new measures to increase the income of the population, as well as reduce unnecessary expenses,” Tokayev added.

The Head of State also proposed to hold open international competitions for the implementation of major investment projects that are of socio-economic importance for the state.  The President noted that this should become a normal practice. In this regard, Kassym-Jomart Tokayev called on everyone to take part in the construction of the “New Kazakhstan.” However, to do this, according to him, a fair and clear state policy is required. At the same time, the inviolability of private property, human rights and freedoms must be guaranteed by the rule of law," the President said.


Translation by Ademi Serikbay

Editing by Galiya Khassenkhanova