Kazakhstan's anti-crisis plan to allow for transition to high-quality economic growth

Business Materials 12 June 2020 17:23 (UTC +04:00)

BAKU, Azerbaijan, Jun. 12

By Nargiz Sadikhova - Trend:

Kazakhstan has prepared an anti-crisis measures package in order to maintain socio-economic stability, including employment, demand and business activity, a source in Kazakhstan’s Ministry of National Economy told Trend.

The official said that as part of the anti-crisis measures, funds were allocated for the implementation of the new Employment Roadmap, concessional lending to small and medium-sized businesses, expansion of the Nurly Zher, Enbek and Business Roadmap state programs, as well as the development of agro-industrial complex, and the Aul-El Besigi project.

The main goal of the Aul-El Besіgі project is to improve the quality of life, modernize the infrastructure of rural areas.

In turn, tax incentive measures are being implemented to support the business country-wide.

“This will allow entrepreneurs to save money, which can then be used to support and develop their own business,” the official said.

The official added that in order to support business activity and employment, a Comprehensive Plan for Restoring Economic Growth for 2020 was also adopted.

“The comprehensive plan includes operational measures to support various economy sectors: tax incentives, credit expansion, measures to develop infrastructure, support domestic production, entrepreneurship and employment preservation,” the official further said.

Talking the goals that these measures will allow Kazakhstan to reach the official said that overall, they will ensure the preservation of employment and will help restore economic activity, as well as minimize the negative effects of COVID-19 and low oil prices crisis, and create a solid foundation for the transition to a stage of balanced and high-quality economic growth.


Follow the author on twitter: @nargiz_sadikh