Kazakhstan supports balanced participation of public and private sectors in the economy
Astana, Kazakhstan, March 13
By Daniyar Mukhtarov - Trend:
An economic development model envisaging a balanced participation of public and private sectors is admissible for Kazakhstan, Chairman of the Board of the Economic Research Institute JSC under Kazakhstan's Ministry of Economy and Budget Planning, Maskat Mukhanov said at a briefing in Astana on March 12.
"There are various models of economic development in the world. Taking into account Kazakhstan's large territory and remoteness from the sea, a model envisaging balanced participation of public and private businesses is admissible for this country according to 'Strategy-2050'," Mukhanov said.
A competitive private sector should be a basis for the economy in the future, according to the JSC board head.
"It is expected that the economic growth will be associated with the development of small and medium sized business. On this basis, our economic model is much closer to a market model," the expert said.
Mukhanov pointed out that during the period of crisis, the state entered the private sector and during the period of active economic development, got out of it.
"We should not run to extremes: either government or the private sector. There are objective reasons due to which not everything can be handed over to the private sector.
The country simply needs to improve the efficiency and qualitative composition of public authorities and the private sector," Mukhanov said.
Translated by L.Z.
Edited by S.M.