Tokayev calls for coordinated action to curb inflation and boost investment
Kazakh President Kassym-Jomart Tokayev has urged the Government and National Bank to coordinate efforts to curb inflation, raise household incomes and strengthen economic growth, Qazinform News Agency reports.
The main goal of economic policy should be to increase the incomes of our citizens, Tokayev said in his annual state-of-the-nation address, stressing that inflation remains high despite a slowdown in price growth.
He called for responsible budget and tax policies, stronger domestic production and improved business productivity.
Tokayev also highlighted the need to expand long-term financing for key economic sectors under the proposed Capital Market Law.
Banks should actively lend to businesses for investment purposes, he said, adding that Kazakhstan needs new financing mechanisms involving banks, development institutions, international financial organizations and the Unified Accumulative Pension Fund (UAPF).
The president also called for greater use of stock market instruments by private companies to attract investment and strengthen the country’s financial ecosystem.
Earlier, Qazinform reported Kazakhstan would raise the minimum wage.