Kazakhstan's economic policy for 2018
The main goals of Kazakhstan's economic policy for 2018 include the retention of achieved indicators of 2017, the provision of a favorable business climate, development of industries with the introduction of digital technologies and transport and logistics infrastructure. Experts believe that this year the country's economy will continue to grow at 4%. In order to ensure a favorable environment and create a strong middle class of entrepreneurs, a new package of systemic measures will be prepared to dramatically improve the business climate, especially at the regional level.
TIMUR SULEIMENOV, KAZAKH MINISTER OF ECONOMY:
- There is an improvement in the legal regulation of business. This year it is planned to reduce 25 control areas out of 114 and 3 areas of supervision out of 18, to decrease the total number of inspections by 30% and to lower the amount of reporting by businesses to state bodies by 30%.
The National Bank forecasts positive dynamics in the country’s financial market, too. According to the head of the department, the primary goal is to ensure that the level of inflation in the new target corridor remains at 5-7%.
DANIYAR AKISHEV, CHAIRMAN, NATIONAL BANK OF KAZAKHSTAN:
- Monetary policy will be aimed at achieving a lower target for inflation in the corridor at 5-7% at the end of 2018. Achieving this goal will be an important step towards a gradual reduction in inflation to 4% by the end of 2020.
One of the key areas of economic growth is transport logistics. This year, as part of the state Nurly Zhol program, the construction of the ‘Center-South’ and ‘Center-East’ corridors will continue. In addition, in 2018, it is planned to complete the third stage of the five-year industrialization plan. 101 state services are planned to be automated in the agro-industrial sector including issuing permits in the veterinary and phytosanitary security. According to the experts, this will contribute to development of exports.