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Kazakhstan citizens’ real incomes rise by 4.4% - Deputy PM

30 January 2019 13:39
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Kazakhstan citizens’ real incomes rise by 4.4% - Deputy PM

ASTANA. KAZINFORM - Deputy Prime Minister of the Republic of Kazakhstan Yerbolat Dossayev has reported today to the President of Kazakhstan Nursultan Nazarbayev on the implementation of the Five Social Initiatives, Kazinform correspondent reports

"The major priority of our work is to transform economic growth into a real rise in the standard of living of our citizens in line with your new social policy. It is fundamentally important [to mention] that the economic growth last year was accompanied by the outperforming 4.4-percent increase in the real income of the population. The Five Social Initiatives announced by you in March 2018 gave a new impetus for further improvement of the quality of life and growth in the prosperity of citizens," Yerbolat Dossayev told the enlarged meeting of the Government of the Republic of Kazakhstan.

In terms of the first initiative, he said that the 7-20-25 Mortgage Program launched on July 1, 2018, made it possible to issue 3,600 loans totaling KZT 43.7 billion. "The total value of the applications received is over KZT 92 billion," said the Deputy Prime Minister.

On the second initiative: starting January 1, 2019, the tax burden of employees with a salary below KZT 63,000 has been significantly decreased (10-fold). "This measure will positively affect the incomes of more than 2 million citizens," Yerbolat Dossayev clarified.

According to the third initiative, starting September 1 of the last year, the number of educational grants for the specialties highly demanded in the labor market has been increased by 20,000. "For the construction of new hostels, we have designated 100 land plots. 12 PPP (public-private partnership) contracts with educational organizations have been signed. New hostel premises to accommodate 5,000 students will be commissioned this year," the Deputy Prime Minister informed.

Regarding the fourth initiative: over 14 thousand microloans for KZT 59.5 billion were issued in 2018. As a result, more than 22,000 people were provided with jobs.

As for the fifth initiative, Yerbolat Dossayev informed that for now, the issues of financing the construction of the Saryarka gas pipeline have been resolved, and the decision on the general contractor has been made. "1,900 new jobs will be created during the project implementation and the operation of the gas pipeline," he concluded.


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