Tuesday, 02 January 2024 12:17 GMT

Kazakhstan Aims To Reduce Inflation To 5-7% By 2029


Date:

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 11. Kazakhstan aims to reduce inflation to 5-7% by 2029, First Vice Minister of National Economy Azamat Amrin said during a press briefing.

This is stated by the press service of the Kazakh government.

Amrin noted that this target is expected to be achieved through the implementation of a Comprehensive Plan for increasing household incomes.

He said that among the key targets of the plan are raising household incomes by 2–3 percentage points above inflation and creating up to 240,000 quality jobs annually.

Furthermore, Amrin pointed out that labor productivity in EU countries currently exceeds Kazakhstan's level by more than three times, while rural areas still face a high share of unstable employment. To address these challenges, Kazakhstan plans to implement 17 cluster projects, launch new agricultural investment initiatives, develop agricultural cooperatives, support small businesses, and expand microcredit programs in the regions.

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