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Kazakhstan Intends To Develop Cooperation With The World Bank

Sunday, June 18, 2017 - 19:32

The government of Kazakhstan and the World Bank have a common view on the state of the republic's economy and the prospects for its development. Prime Minister of the Republic Bakytzhan Sagintayev made such a statement on June 15, while delivering a speech at the plenary session of the Astana Economic Forum.


“We are interested in joining out efforts to seek pragmatic solutions, fresh ideas and new formats of cooperation. In this regard, we are very interested in the results of the World Bank's systematic diagnosis of the economy of Kazakhstan; we have already begun to discuss these results. The thoughts demonstrated during the presentation mostly coincide with the work currently being carried out by the government to implement the strategic development plan of Kazakhstan in the period until 2050,” Sagintayev said.


According to him, Kazakhstan is facing the task of consolidating the achieved successes and development in the new global reality. According to the Prime Minister, the republic needs to “be in the wake of the new growth points.” Therefore, the government is implementing this strategy in five areas: macroeconomic stability, accelerated technological modernization of the economy, ensuring productive employment, improving the business environment, and improving the quality of human capital.


“This task can be considered difficult, and we understand that. In order to fulfill it, we will have to gradually reach the 5.5 percent growth rate by 2021. In the first five months of 2017, the GDP grew by 4.1 percent, while the 2016 figure was one percent. The situation is not simple; however, we can say that we have managed to adapt to the existing price for raw materials,” the Kazakh Prime Minister said.

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