Kazakh government to develop concept of financial sector development until 2030
The financial sector of Kazakhstan will have new growth opportunities. The country plans to adopt the Concept of the development of this sector until 2030. It was announced by Kazakh Prime Minister Askar Mamin at a government meeting. He said that, in the next 10 years, the country will expand bank lending to the economy for its further growth. All this will be done through market mechanisms. The structure of the sector itself must also change. Specialists should now focus on competitiveness in the non-resource sector. In addition, the Agreement between the government, National Bank of Kazakhstan and the Agency for Regulation and Development of Financial Market was supported at the session. This agreement is needed to better coordinate macroeconomic policy measures.
“Improving the standard of living and well-being of the population is the main priority of the country’s socio-economic policy. For this, the coordination of monetary, fiscal and structural policies, as well as financial sector development policy, will be ensured. A fundamentally new institutional framework will be established, which will create conditions for the qualitative and stable development of the economy”, said Askar Mamin, Kazakh Prime Minister.