Kazakhstan's Minister of National Economy, Nurlan Baibazarov, responded to a question about who can be considered a wealthy person in Kazakhstan during a Senate meeting, Nur.kz reports.
Journalists asked how much a Kazakhstani citizen needs to earn to consider themselves rich. "There are average national data on salaries, which are regularly published, showing sectors with high earnings. These include the oil and gas industry and finance, in terms of wages. I am not discussing entrepreneurship or business here. We have a living wage threshold, and there are categories of people living below this threshold who receive assistance. Whether someone is considered rich depends on the individual. To be considered wealthy, one needs to earn more than the average salary in Kazakhstan," Baibazarov explained.
He added that the state’s responsibility is to actively support those in need and implement employment measures.
"I reiterate: there are minimum social standards that we rely on. The minimum wage is 85,000 tenge, which the state must guarantee. Beyond that, individuals must work and strive for forms of employment that allow them to earn more. There’s no precise classification," Baibazarov concluded.
In September last year, it was reported that Kazakhstan has citizens with assets exceeding $50 million. Analysts from KSZH Freedom Life found that in 2020, there were 304 dollar millionaires in the country.
Earlier, analysts noted that a significant portion of Kazakhstani citizens earn less than 160,000 tenge. As of July, Kazakhstan was reported to have 44,307 dollar millionaires. Meanwhile, by the end of September this year, the living wage was set at 55,120 tenge, which is deemed sufficient for the average Kazakhstani’s basic needs.
Additionally, Kazakhstan’s Ministry of Labor provided data on the number of citizens earning salaries between 85,000 and 100,000 tenge.
CentralasianLIGHT.org,
November 21, 2024