The Government will ensure economic growth at a level of no less than 5%, allocate around 8 trillion tenge to support the real sector, and take measures to reduce inflation to 9–11%. Deputy Prime Minister – Minister of National Economy Serik Zhumangarin reported on the mechanisms for implementing the President’s instructions given at the National Kurultai at the Government session.

The Deputy Prime Minister noted that the Government will continue implementing the Program of joint actions with the National Bank and the Agency for Regulation and Development of the Financial Market on macroeconomic stabilization and improving the well-being of the population for 2026–2028. According to him, increasing household incomes is a priority, and this year real income growth should exceed 2–3%.

“The Minister emphasized that this will be achieved through qualitative economic growth at a level of no less than 5% and a reduction in inflation. For this purpose, as he clarified, the volume of investments in fixed capital will be brought to 18% of GDP. The emphasis is planned to be placed on the development of non-resource sectors, increasing labor productivity, technological renewal, and digitalization of the economy,” Serik Zhumangarin noted.

He also reported that a proactive investment policy will be pursued, and measures to support entrepreneurship will be expanded. In particular, it is planned to create a state mechanism for organizing new production capacities to increase gross value added and exports. State bodies will play an active role in organizing and creating strong and successful projects. To implement this policy, the role of the Baiterek Holding has been strengthened. This year, capitalization of the Holding up to 1 trillion tenge is предусмотрена.

The Deputy Prime Minister added that, taking into account funding, the real sector of the economy will be covered by support measures in the amount of about 8 trillion tenge, with the main emphasis placed on deep processing clusters.

An important factor of sustainable economic development is small and medium-sized businesses. Systematic measures to improve the business environment will continue. To stimulate entrepreneurial activity in priority sectors, the preferential financing program “Өрлеу” has been launched. In addition, the Unified Small Business Support Program “Іскер аймақ” has been developed, which is focused on regional specialization projects. Implementation of the Program will make it possible to support about 23 thousand projects and ensure lending in the amount of 1.2 trillion tenge, with budgetary support of about 127 billion tenge.

Regarding inflation issues, Serik Zhumangarin reported that measures will be taken to reduce it to the corridor of 9–11%.

“The emphasis will be placed on increasing domestic food production and saturating the internal market. From this year, the list of socially significant food products has been expanded from 19 to 31 items. The impact of tariff increases by natural monopoly entities will be limited in conjunction with target inflation parameters,” the Deputy Prime Minister emphasized.

Speaking about the implementation of the new Tax Code, Serik Zhumangarin reported that the work is under constant control and systematic explanations are being carried out. He cited data that seminars with the participation of about 130 thousand business representatives have been organized in all 20 regions, about 1.5 thousand questions have been received, on which explanations have been provided. Feedback has also been ensured: since the signing of the Code, about 1.4 thousand appeals have been received, including 205 since the beginning of the current year.

Most of the requests are of a practical nature. To simplify work, according to the Vice Prime Minister, a Project Office for the implementation of the Tax Code and simplification of the regulatory environment is being created under the Government. Serik Zhumangarin noted that this office will become a single coordination point for accumulating appeals and forming a unified position of the state.

“All constructive proposals will be carefully studied to determine the need for amendments. The Project Office will ensure a smooth and predictable transition to the new norms without conflicts, which will create a basis for further sustainable growth and improving the well-being of the population,” the Deputy Prime Minister reported.

#Economy #Government session #Inflation #President's instruction #Serik Zhumangarin

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