Modern challenges and responses: President of the Republic of Kazakhstan Kassym-Jomart Tokayev on the path to the future for Kazakhstan

1/3/2024

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The President thanked for the time allocated to conduct the interview and expressed gratitude for the opportunity to discuss important issues of concern to society. He highlighted key events of the past year, including the completion of political reforms, the entry into force of the Constitutional Court and the holding of elections at various levels. Kasyma-Jomart Tokayev highlighted the ongoing construction of a competitive economic system, emphasizing the resolution of issues in the field of social protection and infrastructure renewal. He emphasized that 2024 will be a continuation of work and will be important for the development of the country.
In response to the question of expectations for the coming year and the main tasks of the country, the President noted the strategic goal of doubling GDP by 2029 and the planned extended meeting of the Government to determine tactics for further actions in the socio-economic sphere. He also emphasized the importance of holding representative summits and forums in 2024, as well as holding the World Nomad Games. The President emphasized plans to honor outstanding historical figures and the completion of the preparation of a multi-volume book on the history of Kazakhstan. He concluded that the success of this year will depend on the efforts of every citizen and called for hard work to achieve the goals of the nation's new rise.
In the 2023 Address, the President proclaimed a new economic course for a Fair Kazakhstan and set himself the goal of doubling the volume of the national economy by 2029, reaching $450 billion. The question is how realistic is it to achieve the goal? In response, the President noted that, according to analysts of the International Monetary Fund, the expected volume of GDP in current prices in Kazakhstan in 2023 should exceed $259 billion, which is 15% more than in 2022. This figure represents a notable nominal increase among Central Asian countries. Continuing in an optimistic manner, the President emphasized the positive dynamics in GDP per capita. While macroeconomic indicators remain important, the President emphasized that the focus should be on the real well-being of citizens. Positive forecasts, in his opinion, can become reality provided that new approaches to economic management are applied by the Government.
The President highlighted two main directions. The first includes solving specific problems that help stimulate the development of the country, such as the implementation of large industrial projects and attracting investment. The second direction involves the introduction of systemic reforms that establish new rules for the entire economy. The President noted the development of new Tax and Budget Codes.
In response to a question regarding citizens' debt on consumer loans, the President expressed serious concern and noted that in recent years various measures have been taken, such as the Decree on reducing the debt burden of citizens and the law on bankruptcy of individuals. He emphasized that collection agencies are currently being audited, and amendments to lending legislation are being developed to tighten requirements for banks and microfinance organizations.
The President concluded the interview by discussing such issues of concern to everyone as rising prices, tariff increases and the general situation in the regions. He emphasized that, despite the operational tasks, the Government faces strategic goals, and assessed the effectiveness of its work as positive. He emphasized the need for joint efforts to solve problems and the desire to achieve stability and prosperity in the country.