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New economic policy designed to protect Kazakhstan from external negative influence

Kazakhstan Materials 20 November 2014 19:33 (UTC +04:00)
The new economic policy, initiated by the Kazakh President Nursultan Nazarbayev, is designed to protect the country from the negative influence from the outside,
New economic policy designed to protect Kazakhstan from external negative influence

Baku, Azerbaijan, Nov. 20

By Elena Kosolapova - Trend:

The new economic policy, initiated by the Kazakh President Nursultan Nazarbayev, is designed to protect the country from the negative influence from the outside, according to Murat Abulgazin, a senior analyst at the Kazakh Agency for Investment Profitability Research.

The Kazakh president made an early address to the people of Kazakhstan on Nov. 11 announcing the start of a new economic policy called Nurly Zhol, or Bright Path in the Kazakh language.

The new economic policy, in particular, involves the allocation of up to $3 billion from the national fund to the budget in 2015, 2016 and 2017 for the development of the national economy.

"The early address of the President Nazarbayev and the proposed new economic policy Nurly Zhol - The Path to the Future is nothing other than a natural, protective reaction of the country's leadership to unstable development of global economy," Abulgazin told Trend on Nov. 20.

He further said the world economy has not yet come to a normal condition after the global financial crisis of 2008, and now the situation has got even more acute.

Moreover, the global economic problems derive an extreme intensification of geopolitical contradictions among global players, including in the form of military conflicts that only aggravate the economic situation, Abulgazin said.

Therefore, he believes that Kazakhstan's president honestly and frankly stated that the world community will face big trials that not everyone will withstand adequately, and this means a further aggravation of economic and political contradictions at the global level with all the possible consequences.

"Hence the sudden decision to strengthen national economic, financial, industrial and social structures with the use of the national fund's means, which allow their normal functioning and development in new, difficult conditions," Abulgazin said.

The expert went on to add that the main difference of the new economic policy lies in the use of the national fund's means, even in the new geo-economic conditions.

"And this is too much responsibility," Abulgazin added.

He went on to add that in the current situation the financial aid to the infrastructure projects and social activities are particularly important.

"For instance, thanks to these measures, there is hope that prior to the international exhibition EXPO, to be held in Astana in 2017, the country will implement plans for transport infrastructure," Abulgazin said.

Edited by CN

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