Kazakhstan must adapt as much as possible to the situation in global markets, carefully considering each step and making well-balanced decisions to protect the country’s economy from various challenges, said President Kassym-Jomart Tokayev during an address to the public in Shymkent, the third-largest city in the country, reports Vlast.kz.
“It is clear that the world is shifting toward a policy of harsh tariff confrontation. This is not just another recession, but potentially a fundamental crisis affecting the foundations of the global economy, with severe consequences for the entire system of international relations. We are thoroughly analyzing the situation and taking all possible risks into account,” said Tokayev.
He emphasized that the government must proactively address all key issues and “act effectively and decisively.”
At the same time, he believes Kazakhstan has significant opportunities, and “in such difficult times,” a GDP growth rate of 5.8% for January–March is “undoubtedly a very strong result.”
“In case of a worsening global crisis, we will be able to draw on resources from the National Fund and our gold and foreign currency reserves,” the president added.
He also reiterated that the state will continue to implement major projects in infrastructure, transport, industry, agriculture, digitalization, and other areas, and will fulfill its social obligations.
“I am confident that in the current conditions, domestic entrepreneurs will demonstrate exceptional initiative and responsibility, because it is they who, regardless of the difficulties, are capable of working with dedication. It is time to focus not on words, but on concrete actions. We need to unite and work with full commitment,” said Tokayev.
CentralasianLIGHT.org
April 14, 2025