Government • 24 October, 2018

Bakytzhan Sagintayev holds a meeting of Council for Economic Policy

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Yesterday, Prime Minister Bakytzhan Sagintayev chaired a regular meeting of the Council for Economic Policy.

The issues of the effectiveness of subsidies and concessional lending to the subjects of the agro-industrial complex of the country were addressed at the meeting.

In the Address to the people of Kazakhstan “Growing Welfare of Kazakh Citizens: Increase in Incomes and Quality of Life,” the Head of State instructed the Government in the next three years to allocate additional at least 100 billion tenge annually to support the agro-industrial complex.

The keynote address at the meeting was made by the Deputy Prime Minister - Minister of Agriculture Umirzak Shukeyev. According to him, first of all, these funds are proposed to be sent to stimulate the introduction of modern technologies in the industry and the renewal of agricultural equipment, as well as accelerate breeding transformation in animal husbandry. It is possible to accomplish the assigned tasks by increasing the availability of financing for agribusiness entities, including by increasing the volume of investment subsidies, cheapening and expanding the availability of bank loans, both for negotiable and for investment purposes.

The ministers of national economy Timur Suleimenov, finances — Alikhan Smailov, for investments and development — Zhenis Kassymbek and others took part in the discussion of the issue.

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