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Tengrinews.kz – President Kassym-Jomart Tokayev held a meeting with Prime Minister Olzhas Bektenov, Chairman of the National Bank Timur Suleimenov, and other officials to discuss the economic situation caused by the collapse of prices for energy resources and key commodities on global markets due to tariff conflicts, according to Akorda.
The Head of State instructed that the work on the government’s and local executive bodies’ action plan in response to the financial and economic crisis be completed as soon as possible, in order to prevent a slowdown in growth rates and a decrease in the volume of attracted investments.
The President emphasized that, despite the extremely unfavorable market conditions, the priorities for the country’s economic development he previously announced — including major infrastructure projects, digitalization and artificial intelligence development, modernization of agriculture, and the transport and logistics sectors — will be implemented.
It is expected that next week, the Head of State will hold a special meeting on this matter.
Earlier it was reported that a historic stock market crash of massive proportions had swept across the globe, wiping more than $10 trillion from the major markets. Investors are selling off shares in anticipation of a recession, which they believe will follow Donald Trump’s tariff policies.
As a reminder, on April 2, U.S. President Donald Trump announced the introduction of tariffs on imported goods from 185 countries. The base rate will be 10 percent, while for some countries it will be significantly higher: 34 percent for China, 46 percent for Vietnam, and 20 percent for the European Union. In response, China abandoned plans to sign a global deal with the U.S. and began preparing for a full-scale trade war with America.
