A map of Kazakhstan’s strategic development plan has been designed until 2025
A map of Kazakhstan’s strategic development plan has been designed until 2025. The government plans to raise the annual GDP growth to 4.5-5%, which will ensure the income growth of US$46,000 per capita by 2025. As a result, the living standard of Kazakhs will meet the standards of the Organization for Economic Co-operation and Development member countries.
TIMUR SULEIMENOV, KAZAKH MINISTER OF NATIONAL ECONOMY:
- We have a strategic plan until 2025. In order to enter the world’s top 30 developed countries, it is necessary to raise the living standards of the population and make a set of indicators. We divided 37 key national indicators into 14 areas.
The private sector will help to accelerate the diversification of the economy. Technology, innovations and investments must be concentrated in this area. Senior economist at the Asian Development Bank, Kiyoshi Taniguchi says the proposed reforms will achieve high economic growth. In return, the international financial institution is ready to give support. The Asian Development Bank started working with Kazakhstan in 1994. Since then, the bank has approved US$5 billion in sovereign and non-sovereign loans and guarantees.
KIYOSHI TANIGUCHI, ECONOMIST, ASIAN DEVELOPMENT BANK:
- We are here to the country diagnostic study for Kazakhstan and this study is advocating Kazakhstan’s economy should be diversified. Our data shows Kazakhstan’s economy is concentrated in the gas and oil sector. We provide public goods, the right infrastructure and transport. Private sector rending directly invest in private sectors and our knowledgeable product like the study is showing today is giving the policy suggestion for the government.