2017 to be a rocky year for Kazakhstan's economy - Minister
"2017 will be a rocky year for Kazakhstan's economy. Global economy will be affected by the challenges related to volatile resources prices, new economic policy pursued by the U.S. Presidential Administration, instability of exchange rates, ongoing military conflicts and political uncertainty in some countries. We will proceed to implementation of the 3rd modernization of Kazakhstan in quite complex global political and economic situation," Minister Suleimenov said at the extended session of the Government with the participation of President Nursultan Nazarbayev on Friday.
"We do realize that aside from ensuring economic growth we also need to ensure its quality. In order to respond to external and internal challenges and consolidate joint efforts towards the implementation of the Strategy 2050 goals we will develop the draft of the Strategic Plan of Kazakhstan's development for 2025 "The National Technological Initiative"," the minister noted.
According to him, tremendous work will be done to raise labor productivity as well as inner and export competitiveness of Kazakhstani production facilities dramatically.
"It is obvious that regulatory environment is as important as measures to enhance competitiveness of separate sectors in the form of subsidies and benefits. In this light Kazakhstan will adopt the 5th package and prepare the 6th package of amendments aimed at improvement of business environment," Timur Suleimenov added.