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Tengrinews.kz – President Kassym-Jomart Tokayev spoke about the situation in the economy of Kazakhstan.
Tokayev noted that the country’s financial stability is confirmed by high credit ratings with a stable forecast from leading rating agencies.
“I agree that the economic situation is not as dire as some so-called ‘experts’ describe. There is no need for self-reproach, but we must not become complacent either. Yes, the economy is growing at 4.8%, but as I stated at the government meeting, this is not sufficient for Kazakhstan. The government must seek new growth drivers, and the business community has a significant role to play in this. International financial institutions consider our national debt to be ‘low’ and manageable,” the Head of State said.
In addition, the President emphasized the importance of strict adherence to financial restrictions in debt management.
"The debt management policy being pursued will be implemented in strict accordance with the established financial restrictions. Due to the increase in the level of income, the budget deficit is expected to decrease, which will limit the increase in the volume of government borrowing. This will create additional opportunities for ensuring long-term economic growth," the President said at a meeting with business representatives.
