Next year we predict economic growth at level of 5.3% - Kazakh PM Smailov

Answering the questions of deputies at the plenary session of the Majilis of the Parliament of the Republic of Kazakhstan, Prime Minister of Kazakhstan Alikhan Smailov spoke about measures to develop the economy of the republic in the coming years and plans to reduce transfers from the National Fund, El.kz reports with reference to the press service of the Government of the Republic of Kazakhstan.

In 2024, the volume of targeted transfer from the National Fund will amount to 1.6 trillion tenge.

"These funds will be used to finance socially significant and strategic infrastructure projects," Alikhan Smailov said.

At the same time, he added that the size of targeted transfers in the coming years will decrease due to the growth of state budget revenues.

- We will solve the issues of attracting appropriate investments and financing the real sector of the economy. In particular, this applies to state support for small and medium-sized businesses, as well as the agro-industrial complex," the Prime Minister said.

Currently, the Government is working on the implementation of 970 major investment projects worth 32 trl tenge, including in the non-resource sector.

Along with this, measures will be taken to modernize the engineering infrastructure through the "Tariff in exchange for investment" program, which will also have a positive effect on the development of the real sector of the economy of the Republic of Kazakhstan.

“Next year, we predict economic growth at the level of 5.3%, and in the future - at the level of at least 6%. In order to increase budget revenues, we focus on economic development, improving tax administration and combating the shadow economy. We will deal with all these issues in a comprehensive manner," Alikhan Smailov concluded.

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