ASTANA, Kazakhstan, September 2. Kazakhstan needs to focus on reconstructing its economy and developing new mechanisms to ensure sustainable progress, the president of Kazakhstan, Kassym-Jomart Tokayev said at a joint session of the Parliament with his annual address to the nation,TurkicWorld reports.
Tokayev emphasized the importance of evolving economic strategies.
"The people of Kazakhstan now live in a completely new political reality. Over the past few years, major reforms have been implemented, and the political system has undergone a radical transformation. We are building a Fair Kazakhstan, and importantly, this aligns with the people's aspirations. We will steadfastly follow our strategic course and stay on track," Tokayev stated.
The president highlighted the new direction for economic development, noting the accelerated diversification of the economy.
"Inflation has slowed, decreasing by 2.5 times compared to the peak of last year. The country's international reserves have surpassed $100 billion. The manufacturing sector is growing faster than the mining sector. It is crucial not to slow down. We need to initiate a new investment cycle and make effective use of the established groundwork," he said.
The head of state also underscored that increasing citizens' income is the primary goal.
"With proper organization, this is quite achievable. Economic growth must be accompanied by a reduction in social inequality and strengthening of the middle class. Only then can we enhance the potential of our state. Efficiency should be the key criterion in every endeavor. Each decision and project should be assessed based on its benefit to the state," he added.
