Baku, Azerbaijan, Oct.26
By Nargiz Sadikhova - Trend:
The main goal of the Kazakhstan’s Ministry of National Economy continues to be reaching qualitative and sustainable growth of economy, which would lead to improving people's living standards comparable to countries of Organization for Economic Co-operation and Development, a representative of the ministry told Trend.
“With an idea of sustainable growth of Kazakhstan’s economy, implementation of initiatives within Kazakhstan 2050 strategy continues in the country, the main goal of which is Kazakhstan joining the “league” of 30 most developed countries of the world. The process of switching to the new model of economic growth by introducing Strategic Development Plan until 2025 was launched to reach this goal,” the representative said.
According to the official, strategic plan has defined seven prioritized areas, which provide for high quality of life, macroeconomics, development of competitive areas, financial sector and green economy, investments attraction, as well as proactive foreign policy:
- Macroeconomics policy is aimed at fiscal sustainability and reduction of non-oil deficit to six percent of GDP, as well as keeping public debt at a safe level, and improvement of monetary policy by introducing inflation targeting of four percent in the medium term perspective;
- Competitiveness of economy areas for strengthening of positions of local ventures on global markets via further industrialization and output of new goods for export, creation of new industries and development of service industries;
- Policy for development of financial sector is aimed at establishment of effective financing chain, which includes sustainable banking sector, stock market and alternative funding sources;
- Policy of active attraction of investments is aimed at improvement of investments climate via direct cooperation with investors and strengthening the protection of their rights, as well as improvement of investments attraction infrastructure;
- Policy for provision of high quality of life oversees stage-by-stage improvement of social standards and norms of social security, development of available and qualitative health care, increasing the availability and comfort of housing and housing infrastructure;
- Policy of ‘green’ economy and environmental protection is aimed at stimulating and attracting green investments, decarbonization, development of alternative energy sources and low-waste economy; and
- Proactive foreign economy polity is aimed at development of favorable economic conditions for Kazakhstan by participating in international integration processes, projects and organizations.
“Overall, achievement of the set goals will provide for average annual economy growth of Kazakhstan by 4.5-5 percent, which is more than forecast growth of global economy and meets the target scenario on the country entering TOP-30 developed countries,” the official concluded.
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