Economy of Kazakhstan builds on human capital

According to the specialist, it is not right to completely depend on energy resources and wait for better times to come on world markets and prices to rise.

In his interview with a journalist from Informburo.kz, Chairman of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan Aset Irgaliyev provided the logical definitions for the future routes of the economy, stemming from the conceptual Address of the President to the nation.

Pointing to the ground for long overdue changes, the Chairman of the Agency noted that since gaining independence, the country has built an economic model with very limited participation of citizens and businesses. Today, the construction and large-scale promotion of a society-centred market economy is declared the pivot of the new strategy, which necessitates rebuilding nearly all deltas, the official said.

It will be wrong to deny a strong supportive role of raw materials in putting the state on its feet, however it is not right to completely depend on the prices of energy resources and metals and wait for better times to come on world markets and prices to rise, Irgaliyev stressed.

“A pragmatically modelled economy should bring benefits to all, including citizens, businesses and the state, and the reform is therefore aimed at raising real incomes and living standards on a long term. According to the axiom, which lies at the foundation of decision-making, the income of the population should grow together with economic growth,” the Chairman said.

In this context, the official emphasised that the state plans to focus its efforts on structuring inclusive development formats and providing public goods, while the immediate functionality of the reforms will have to be centred on human capital and efficient infrastructure.

25 03 2022, 11:35
Photo source: economy.gov.kz

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