19 Jan 2024 10:03

Tokayev announces reforms to make Kazakh economy more transparent, sustainable

ASTANA. Jan 19 (Interfax) - Kazakhstan will soon launch large-scale reforms that will make its economy more transparent, sustainable and dynamic, President Kassym-Jomart Tokayev said.

"Along with political transformations, we are working to bolster our market and competitive economy, something that I see as a key condition for success. I can tell you confidently today that in the near future Kazakhstan will launch crucial radical reforms that will make our economy more transparent, sustainable and dynamic," Tokayev was quoted by his press service as saying at the Italy-Kazakhstan Investment Round Table in Rome.

"Our goal is to bring the standards, rules and practices for doing business in Kazakhstan to the level of the Organization for Economic Cooperation and Development. We seek to create an investment climate that will meet the highest world standards," he said.

"We recorded economic growth of 5.1% last year, which is almost twice as high as the global forecast. Our mid-term strategic goal is to secure 6%-7% growth, which will allow us to double our economy by 2029," Tokayev said, adding that "this requires large-scale reforms."