Inflation decreases in Kazakhstan, and investments grows in 2023

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Prime Minister of Kazakhstan Alikhan Smailov held a government meeting on the transformation of the Prime Minister's Office into the Government Office, reorganization of the Ministry of Ecology, Geology and Natural Resources, as well as the development of sectoral concepts and development plans, Zakon.kz reports.

Smailov recalled that by decree of the President of Kazakhstan, the Ministry of Ecology, Geology and Natural Resources was reorganized into the Ministry of Ecology and Natural Resources. Functions and powers in the field of geological exploration of the subsoil and reproduction of the mineral resource base were transferred to the Ministry of Industry and Infrastructure Development of Kazakhstan.

"One of the main tasks of the Ministry of Industry is to attract investment in the development of subsoil. It is necessary to complete the launch of a single data bank of geological information into commercial operation," Smailov said.

Monitoring of the state of subsoil and state control over mining in Kazakhstan will be strengthened, Minister of Industry and Infrastructure Development Kairbek Uskenbayev said.

The process of making the necessary industry decisions and digitizing business processes will accelerate, he added.

The Government of Kazakhstan faces important and ambitious tasks: ensuring economic growth by 4% in real terms, reducing inflation by 2 times to 9.5% and attracting foreign direct investment in the amount of $24.4 billion in 2023, Smailov said, concluding the meeting.

"Our main goal is to ensure the growth of the country's socio-economic development, further improving the quality of life and the well-being of the population. Each of you requires high efficiency and full dedication in decision-making," the head of the government of Kazakhstan concluded.

CentralasianLIGHT.org

January 3, 2023