President's Address indicated Kazakhstan's economy growth «locomotives» - expert

TARAZ. KAZINFORM Annual President's Address is important, meaningful and it has a strategic character, proclaiming country's transition to the third stage of economic modernization. Nailya Almukhamedova the Acting Head of Department of Economic Research at KazISS told Kazinform correspondent reports.

"Despite the complexity of the situation in the world economy and in the country President's Address is not only a response to global challenges. It also presents a systematic action plan aimed at implementing goals and objectives of the Strategy-2050. The main focus of the Address was the transition to the new stage of modernization. Particular attention will be paid to improving the competitiveness of the economy through development of transport and logistics industry, agriculture, social services, improving the business environment".

Nailya Almukhamedova believes that state's presence in the economy will continue to decline in foreseeable future through privatization and growth of private sector. It is expected that the gradual decline of state's in financing the economy will be carried out through the use of capital market instruments and further development of public-private partnership.

"President's Address revealed the "points" and "locomotives" of growth, internal potential of which is not exhausted and their capability to achieve a strong competitive advantage. At the same time, taking into account the probability of global technological change, country's prosperity will depend on construction of an effective mechanism for accelerating innovating. In this regard, President instructed the Government to develop a strategic development plan until 2025 "National Technology Initiative in Kazakhstan", said Nailya Almukhamedova.

In her opinion, strengthening the economy's stability will contribute to the simultaneous implementation of political modernization, namely redistribution of powers between branches of government.

"Thus, it is a further process of modernization with the help of certain structural reforms will improve the competitiveness of the economy and its resilience to external and internal challenges", summed up the expert.