Government Unveils Anti-Crisis Plan Following Presidential Instructions

Kazakhstan’s government has announced a package of emergency economic reforms following a 48-hour ultimatum from President Qasym-Jomart Toqayev, Orda.kz reports.

Prime Minister Olzhas Bektenov presented the plan, which includes a freeze on fuel and utility prices, tax relief for small businesses, and expanded access to housing loans.

Starting October 16, the government will impose a moratorium on further price increases for AI-92 gasoline and diesel fuel until inflation stabilizes. The Energy Ministry, Antimonopoly Agency, and local authorities will monitor fuel prices and ensure supply stability.

Utility tariff hikes are also suspended until the end of the first quarter of 2026, except for scheduled repair projects. Vulnerable groups will continue receiving targeted social assistance, the government said.

To stabilize food prices, support for agricultural producers through regional stabilization funds will be increased, while local commissions will monitor retail markups and identify intermediaries.

In tax policy, the government has made concessions to small and medium-sized businesses.

Additional restrictions have been removed from the simplified tax system’s list, leaving only 44 types of activities. From January 1, 2026, small and microbusinesses will be exempt from inspections, audits, and disputes over registration or invalid transactions.

In housing, the government plans to double the volume of preferential mortgage loans to 500 billion tenge through the Nauryz and Nauryz-Zhumysker programs. The Askeri Baspana project will also resume, providing housing opportunities for about 7,000 military families each year. Developers will be offered fixed-price offtake contracts for three years.

The automobile market will receive additional support through continued car loan programs and the introduction of leasing options for individuals. State holding Baiterek will soon present further measures for SME support.

These reforms aim to ensure sustainable economic growth and improve citizens’ welfare. That remains our top priority, Bektenov said.

Earlier, President Toqayev had ordered the government to deliver a new reform plan within 48 hours, demanding stronger support for SMEs and higher household incomes.

Original Author: Ruslan Loginov