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Kazakhstan's New Prime Minister Unveils Strategic Objectives for Economic Prosperity

Newly appointed Prime Minister Olzhas Bektenov of Kazakhstan outlines his strategic objectives to drive economic growth, emphasizing financial sector reform, industrial development, and social reforms. These initiatives aim to create a prosperous future for the nation by fostering a conducive environment for growth and development.

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Salman Akhtar
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Kazakhstan's New Prime Minister Unveils Strategic Objectives for Economic Prosperity

Kazakhstan's New Prime Minister Unveils Strategic Objectives for Economic Prosperity

In a decisive move to steer Kazakhstan towards economic prosperity, newly appointed Prime Minister Olzhas Bektenov unveiled his strategic objectives at a meeting on February 9. Following President Kassym-Jomart Tokayev's directives from an earlier government session, Bektenov outlined key focus areas, including financial sector reform, industrial development, and social reforms.

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Financial Sector Reform: A Fiscally Responsible Approach

Bektenov emphasized the need to prioritize budget expenditures, ensuring maximum economic return and eliminating unproductive spending. He called for a comprehensive audit of the national and local budgets to reduce unnecessary outlays and proposed a rewrite of the Tax Code with input from experts and the business community. This reformation aims to foster a favorable environment for business growth and stimulate Kazakhstan's economy.

Industrial Development: Boosting Domestic Production

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In the realm of industrial development, Bektenov directed efforts to involve major industrial players in presenting plans for high-conversion production facilities. He urged domestic industrial companies to purchase more Kazakh goods and services, thereby bolstering the nation's self-reliance. Furthermore, Bektenov stressed the importance of using local building materials, ensuring power supply reliability with added generation capacity, and initiating water conservation measures.

Social Reforms: Prioritizing Healthcare and Digital Transformation

Recognizing the significance of a robust healthcare system, Bektenov highlighted the need to overhaul the healthcare insurance system, with a focus on digitization and transparency. He also emphasized advancing digital transformation across sectors and improving transportation, agriculture, education, and rural healthcare.

Bektenov insisted on the importance of ministers independently resolving sectoral issues, eradicating formalism and bureaucracy. By fostering a conducive environment for economic growth and social development, Kazakhstan's new Prime Minister aims to propel the nation towards a prosperous future.

As Olzhas Bektenov embarks on this ambitious journey, the world watches with anticipation, eager to witness the transformation of Kazakhstan's economic landscape. With a strategic focus on financial sector reform, industrial development, and social reforms, the Prime Minister's objectives promise to usher in a new era of growth and prosperity for the nation.

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