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Labor efficiency becomes key economic development driver, Nursultan Nazarbayev

16 May 2019 12:28 403

NUR-SULTAN. KAZINFORM The XII Astana Economic Forum themed Inspiring growth: people, cities, economies has kicked off in the capital of Kazakhstan.

"The global economy, by various estimates, will lose no less than 0.7%-0.8% of growth. Against this background the world propells into the period of global socioeconomic and technological transformation. It brings the nations both challenges and opportunities. I would like to share my vision what shape the world will take in the near future," First President of Kazakhstan-Leader of the Nation Nursultan Nazarbayev said opening the forum.

As the Leader of the Nation noted, increase in population ceases being key to growth in national economies.

"Labour efficiency becomes the key driver. For the past 50 years just the third part of the annual GDP growth in the developed countries was provided by the natural population increase. International experts are confident that countries which able to drastically rise this exponent will be competitive in this century. At the same time, currently potential for gain in productivity may account for no less than 2% a year over the next decade," Nursultan Nazarbayev stressed.

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