BAKU, Azerbaijan, Sept. 1
Trend:
President of Kazakhstan Kassym Jomart-Tokayev has instructed to increase 1.5 times the export of processing industry goods, Trend reports citing the Kazakh media.
Tokayev said it is necessary to continue work on diversifying the economy, expanding the range of goods produced and the geography of exports.
“In 2020, for the first time in 10 years of industrialization, the plan of the processing industry in the development of the economy exceeded the share of the mining industry. The medium-term goal by 2025 is to increase the export of the manufacturing industry by 1.5 times to $24 billion, labor productivity by 30 percent,” Tokayev said.
Earlier, the head of state instructed to prepare a Concept for Public Finance Management.
“Largely thanks to the low public debt and the presence of significant reserves, Kazakhstan is relatively successful in overcoming the consequences of the coronavirus pandemic. This is our serious competitive advantage and now it is important not to lose it. However, there has recently been a tendency when the budget deficit and transfers from the National Fund are increasing to cover expenditure obligations,” the president noted.