PM instructs to ensure social stability and employment
NUR-SULTAN. KAZINFORM - At the Government session chaired by Prime Minister Askar Mamin, the results of the country's socio-economic development and the implementation of the republican budget for January-February 2020 were considered, Kazinform refers to primeminister.kz.
The Minister of National Economy Ruslan Dalenov, Chair of the National Bank Yerbolat Dossayev, First Deputy Prime Minister – Minister of Finance Alikhan Smailov reported on the state of economy, banking sector, implementation of the republican budget, and local content in public procurement projects. The Minister of Labor and Social Protection of the Population Birzhan Nurymbetov and First vice Minister of Industry and Infrastructure Development Kairbek Uskenbayev told about the labor market and implementation of infrastructural projects.
In January-February 2020, GDP growth amounted to 3.3% compared to the corresponding period of 2019. Investments in fixed assets increased by 11.6%, including private — by 12.1%. Inflation persists in the target band — 6%.
Non-resource sectors of the economy showed growth including manufacturing — by 9.4%, automotive (72.2%) and light industry (12.4%), construction — by 11.9%. The assets of the National Fund amounted to USD61.1 billion, gold and foreign exchange reserves — USD29.3 billion.
«Today, there is a negative trend in the foreign economy. Several major international financial organizations and development institutions have announced a decrease in forecasts for this year’s global economic growth. The impact of lower energy prices has intensified amid OPEC’s failure to reach agreement on the implementation of coordinated measures to stabilize the market,» said Mamin.
The prime minister emphasized that the Rapid response headquarters was established by the Head of State. Corresponding headquarters have been established in all regions. The Government has worked out several options for the further developments. A few measures aimed at minimizing the effects of the negative external environment on the national economy have been developed.
The Head of Government instructed Akimats to ensure the effective operation of stabilization funds for conducting commodity interventions in the markets for socially significant goods.
Mr. Mamin instructed JSC SWF Samruk-Kazyna, national management holdings and other organizations accountable to the Government, to coordinate their operations in the foreign exchange market with the National Bank.
The Ministry of Finance, together with state bodies, was instructed to make proposals within a week to revise the priorities of budget expenditures with the postponement of the implementation of non-priority investment projects.
The Head of Government instructed the Ministry of Labor and Social Protection of the Population to ensure timely social payments and to develop a new Employment Roadmap.
« Our common task is to ensure social stability and employment. Particular attention must be paid to maintaining existing and creating new jobs. I emphasize that all social obligations of the state will be fulfilled. All pensions and benefits will be paid on time and in full ,» summarized Mamin.