Kazakhstan, Astana, Jan.20 / Trend, L. Podolyak /
Kazakhstan faces major difficult challenges dictated by the world economy, President of Kazakhstan Nursultan Nazarbayev said at a meeting of the first session of the country's Parliament of the fifth convocation.
He said it will be even more difficult to fulfil them as the modern world is undergoing a major transformation - instability in the world economy, the probability of a new crises and decline in prices for our exports all of which can affect the Kazakh economy.
"We must be progressive and very careful in social matters in the coming years. We will index pensions and income at inflation rate and at the expense of an increase, as we did at 20-30 per cent. We need to carefully examine developments that will take place in the world. Accumulated money may come in handy to pay the pensions and salaries we already have," Mr Nazarbayev said.
He added that of course, the money will be spent for improving the social well-being of our people.