Kazakhstan’s Business Cannot Cope Without The State?

First Deputy Minister of National Economy Azamat Amrin has opposed reducing the state’s role in the economy, despite recommendations from the World Bank and the International Monetary Fund, Orda.kz reports.

According to him, business development in Kazakhstan is still difficult without state support.

There is a separate program to reduce the state’s share in the economy. It provides for the sale of state-owned enterprises until 2029. But the economy itself now works in such a way that, unfortunately, there is no development without the state. In my opinion, the state should be present and actively participate in business development. There are proposals from the World Bank, but not all of them are applicable to us. In theory, everything looks good, but in practice it is a little different,Amrin said.

Amrin also commented on whether preferential loans could create unequal conditions for businesses. According to him, only companies that meet the established criteria and pass competitive selection can receive such support.

Not everyone can get a preferential loan. There is strong competition and serious checks. Therefore, support does not go to everyone, but to the best projects. And that is probably fair,Amrin said.

Original author: Alina Elgeldina

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