There should be less Government in economy, says Nursultan Nazarbayev

ASTANA. KAZINFORM - The Government of Kazakhstan should manage no more than 15 percent of the country's economy, said President of Kazakhstan Nursultan Nazarbayev, Kazinform correspondent reports.

"In the first years of Independence, in 1995-1999, we conducted the most rapid privatization. It is owing to this that we moved the fully stagnated economy and began emerging from the crisis. Much time has gone since then. Now our goal is that there should be less Government in the economy and to ensure that the Government could manage no more than 15% of the economy," the Head of State said at the ceremony of launching the first trading session on the AIFC Exchange.

The Head of State reminded that Kazakhstan has started the second large stage of privatization. And, the AIFC Exchange launch is one of the conditions in achieving that goal. Nursultan Nazarbayev underscored that the center should catalyze the attraction of foreign capital and should propel the stock market to the next level of development.

"Kazakhstan is the world's largest uranium producer. Our country accounts for 20 percent of the world uranium market. Therefore, the shares of the company are of strong interest in the world, and the demand will only go up. In the future, we plan to offer assets as such companies as Kazakhtelecom, Air Astana, KazMunaiGas, and more for sale," concluded the President.