At a Government session chaired by Prime Minister Olzhas Bektenov, measures to reduce the shadow economy were discussed. Minister of Finance Madi Takiyev and Chairman of the Financial Monitoring Agency Kairat Bizhanov reported on the ongoing work in this area.

“The Head of State has set the goal of reducing the share of the shadow economy in GDP to 15% this year. We must continue striving for a consistent decline in this indicator. We need a transparent economy. All government bodies and business entities must intensify their efforts in this direction. This work should not be limited to correspondence and reports. We need qualitative and comprehensive solutions in the areas of economic and tax sustainability, digitalization, and business simplification,” noted Olzhas Bektenov.

President Kassym-Jomart Tokayev, in his Address to the Nation, emphasized that all sectors of the economy must be modernized through digitalization and the introduction of artificial intelligence — a strategic priority.

At the same time, digitalization levels remain insufficient in several sectors, such as trade, construction, and agriculture. All relevant ministries have been instructed to ensure full-scale digitalization.

As part of the digital transformation of the economy, the State Revenue Committee should become a flagship of digitalization among government agencies. Only systemic steps can create a fundamentally new service model of state–business interaction, stressed the Prime Minister.

The implementation of digital initiatives requires proper infrastructure and resources. In this regard, the Ministry of Artificial Intelligence and Digital Development is instructed to establish a dedicated Data Processing Center for the State Revenue Committee next year.

Several digital projects in Kazakhstan have already proven effective. For example, cashless payments play an important role in combating the shadow economy.

Pilot projects using the digital tenge are being implemented in the regions — including in road and railway construction, subsidizing the purchase of livestock and agricultural machinery, and VAT refunds.

“To scale up this project, the Ministry of Finance together with the National Bank must ensure the use of the digital tenge within republican and local budgets, as well as the budgets of state holdings. Report the results to me by February 1 of next year. To enable automated monitoring of the targeted use of loans and subsidies, integration of information systems and enhanced oversight must be ensured,” Olzhas Bektenov instructed.

The completeness and transparency of customs administration significantly affect state budget revenues. The Ministries of Finance and Trade must strengthen monitoring of export and import operations. Updating risk profiles and creating green corridor transit conditions should eliminate the human factor.

In addition, artificial intelligence must be introduced in cargo inspection data analysis. This will help prevent corruption offenses and accelerate border clearance processes. The Ministry of Finance, together with the Financial Monitoring Agency, was instructed to strengthen coordination in combating the shadow economy.

Following the discussion, the Prime Minister issued a series of specific instructions to relevant ministries:

• The Ministries of National Economy and Finance – to prepare an annual expanded analytical report on the effectiveness of anti-shadow economy measures, including concrete policy proposals.
• To ensure traceability in the registration and re-registration of legal entities, the Ministries of Justice, Finance, and Artificial Intelligence, together with the Financial Monitoring Agency, must complete the implementation of an automated risk management system by November 25 of this year.
• To improve the accuracy of analytics and the quality of administration, information exchange between government bodies and financial institutions must be strengthened. The Ministries of Finance, Artificial Intelligence, and other government agencies must integrate data with the Smart Data Finance system.

Coordination and control over implementation are assigned to Deputy Prime Minister – Minister of National Economy Serik Zhumangarin.

#Olzhas Bektenov #The Prime Minister of the Republic of Kazakhstan #Roman Sklyar #Finance #Heating season #President's instruction

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