Kazakh PM Unveils Measures to Boost Economic Growth to 6% Annually

Astana, The Gulf Observer: Kazakh Prime Minister Olzhas Bektenov has outlined the Government’s strategic measures aimed at achieving a robust economic growth rate of 6% per year, according to media reports.

Prime Minister Bektenov emphasized that the construction, infrastructure, processing, and agro-industrial sectors will be the main drivers of this economic growth. These sectors are set to receive priority support to stimulate development.

The Government plans to leverage resources and funds from the Samruk Kazyna and Baiterek holdings, in addition to domestic capital, direct foreign investments, and private capital, to support key projects. Specifically, projects valued at over 3 trillion tenge will be financed through Baiterek, while Samruk Kazyna will fund projects up to 700 billion tenge.

Highlighting the Government’s commitment to improving housing, Bektenov announced that no less than 18 million square meters of housing will be commissioned across Kazakhstan. To facilitate homeownership, new soft mortgage programs, Otau and Nauryz, have been introduced, attracting 64,000 applicants to date.

Infrastructure development is also a priority, with plans to build, repair, and reconstruct over 12,000 kilometers of roads. Additionally, 13 special economic and industrial zones, along with small industrial areas, will be equipped with necessary infrastructure. Efforts to improve rural living standards include the gasification of 87 rural settlements.

These comprehensive measures underscore the Government’s dedication to fostering sustainable economic growth and improving the quality of life for its citizens.