President Kassym-Jomart Tokayev delivered state-of-the-nation address to the people of Kazakhstan

September 1, 2023

 

President Kassym-Jomart Tokayev delivered state-of-the-nation address to the people of Kazakhstan "The Economic course of a Fair Kazakhstan" at a joint session of the Chambers of Parliament.

At the beginning of his speech, the Head of State focused on the political reforms being implemented in the country. He noted that the formula "A strong President – an influential Parliament – an accountable Government" has become even more entrenched, important steps have been taken in the field of human rights protection, large-scale work is being carried out to ensure the rule of law and justice.

The President is convinced that in order to become a truly developed country, it is necessary to combine political reforms with deep and comprehensive socio-economic transformations.

– Despite the difficult geopolitical situation, our country maintains positive dynamics in all key indicators of economic development. Last year, Kazakhstan's GDP amounted to 104 trillion tenge. A record $28 billion of foreign direct investment has been attracted. Foreign trade turnover has also reached a record level of $136 billion, of which 84 is exports. The pillar of stability of our economy – external reserves – came close to $ 100 billion. However, most States also do not stand still. Fundamental shifts are taking place in the global economy and the international division of labor today. The technological race is gaining momentum, competition for resources is intensifying everywhere. The problems of climate change, food security, and sustainable demographic development have become highly relevant. In a word, humanity has entered another era of unprecedented challenges and radical changes. In such an important period, we have all the opportunities for a powerful economic breakthrough. To do this, we must gradually, but firmly and decisively switch to a new economic model, which is headed not by abstract achievements, but by a real improvement in the lives of citizens," Kassym–Jomart Tokayev said.

In the Address, the Head of State set specific tasks for the Government to support the manufacturing and mining industries, the military-industrial complex, agriculture, energy, transport and logistics, finance, IT and digitalization, water resources, the creative industry, as well as small and medium-sized businesses. He also unveiled a number of important initiatives to reduce the influence of the state on the economy, demonopolize the economy, revise macroeconomic policy, reform tax and budget policies, and the system of administrative management.