Kazakhstan's to take actions within economic growth restoration plan
BAKU, Azerbaijan, May 19
By Nargiz Sadikhova - Trend:
Kazakhstan’s government has adopted an Integrated Plan for Restoring Economic Growth till end of 2020, Trend reports with reference to the press office of Kazakhstan’s prime minister.
The plan covers 10 areas and consists of 172 systemic and sectorial measures to stimulate business activity, support employment and increase incomes.
The draft document has been discussed in detail and agreed upon with all interested parties and the business community, including the Atameken National Chamber of Entrepreneurs and industry business associations during a government meeting held on May 19, 2020.
“The implementation of the Integrated Plan should minimize negative consequences of external shocks, cover all most important sectors and include practical measures to revitalize local business,” Kazakhstan’s Prime Minister Askar Mamin said.
The proposed measures provide for a significant expansion of financing and concessional lending mechanisms, including micro-business, and the active use of guarantee and reimbursement of export costs.
The practice of concluding forward and long-term off-take contracts will be introduced. The load will be reduced and tax administration will be simplified, preferences and deferrals on taxes and loans will be applied, individual fines and fees will be abolished, administrative barriers will be minimized.
New approaches will be introduced to stimulate demand at the housing market, support local production and the service sector.
“In general, the measures included in the Integrated Plan give an opportunity to restore the activity of several industries where over six million people are employed,” Mamin said.
Mamin instructed to ensure the strict implementation of the plan's activities in time and prepare the final draft of the document by July 1, 2020.
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