Kazakhstan's Prime Minister Olzhas Bektenov has outlined a series of measures to curb inflation, stabilize food prices, improve budget efficiency and strengthen the investment climate following the President’s state-of-the-nation address on October 28, Qazinform News Agency correspondent reports.
Government to curb inflation and stabilize prices The Ministry of National Economy, together with the National Bank and other government agencies, must develop measures by November 20 to improve coordination between fiscal and monetary policies, reduce inflation and increase real household incomes.
Regional authorities have been instructed to monitor food price stabilization measures weekly, while the Ministry of Trade must strengthen controls on retail markups for socially significant food products. The Ministries of Trade and Agriculture must also ensure sufficient food reserves for the winter and expand direct supplies.
Digital budget management and business development Bektenov instructed the Ministries of Finance, National Economy and Artificial Intelligence to expand the use of digital tools and AI in budget procedures. The measures should enable automated checks, identify inefficient spending and allow real-time monitoring of budget transactions.
The government must also prepare a development plan for medium-sized businesses by the end of the year. It will focus on helping small businesses grow, improving access to long-term financing, attracting private investment, modernizing production and increasing labor productivity.
Three-year moratorium on inspections under consideration The government will discuss introducing a three-year moratorium on inspections of micro and small businesses starting January 1, 2027. The proposal will be considered with the Atameken National Chamber of Entrepreneurs, the business ombudsman and Qurultay members.
Bektenov said the initiative aims to reduce administrative burdens and prevent excessive government interference in business activities. Proposals must be submitted to the government within two weeks. The Ministries of National Economy and Foreign Affairs, together with the Baiterek holding, must submit proposals within 10 days to establish a unified investment management system.
The Ministry of National Economy is expected to identify a central decision-making body, clarify the responsibilities of all participants and improve coordination with investors.