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Tuesday, 17 May 2022 06:57 GMT

Rising influence of limited elite groups in Kazakhstan becomes serious security threat - Tokayev

(MENAFN- Trend News Agency)

BAKU, Azerbaijan, Jan. 21


The growing influence of limited elite groups and the decline in the incomes of the majority of the population in Kazakhstan has become a serious security threat, President Kassym-Jomart Tokayev said, Trend reports on Jan. 21 via Akorda (the Kazakh president's residence).

Tokayev made the statement at a meeting with representatives of major business circles of the country.

'There is a clear imbalance and an obvious problem of justice in the distribution of national income,” he noted.

“International experts (in particular, KPMG) assert that only 162 people possess half of Kazakhstan's riches, while monthly income of half of the population doesn't exceed 50,000 tenge, which is a little more than $1,300 per year. It's almost impossible to live on such income,” Tokayev said.

“Such stratification and inequality are dangerous. The situation needs to be urgently changed,” he stressed.

The president called on the business circles to draw lessons and start working together on building a new economic policy, which, according to him, should become the basis of a new Kazakhstan.

The president's speech outlined the following key principles:

– fair competition;

– transparency of decisions made;

– predictability of state policy;

– tax fairness of business;

- social responsibility of entrepreneurs.


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