Kazakhstan is launching a large-scale infrastructure modernization. This was announced today by President Kassym-Jomart Tokayev in his state-of-the-nation address Kazakhstan’s Current Priorities in a New Historical Cycle. The Head of State noted that the country has significant potential to develop infrastructure and improve every region. According to the International Monetary Fund, Kazakhstan’s GDP is expected to approach $400 billion this year, which would place the country 47th in the world by economic output. Kazakhstan’s manufacturing industry is also developing rapidly, with its share of GDP having already reached 14%. Meanwhile, the country’s gold and foreign exchange reserves and National Fund assets have exceeded $130 billion. Now is the time to build and modernize social, transport and engineering infrastructure, Kassym-Jomart Tokayev emphasized.
«The Government will develop an unprecedented Infrastructure Modernization Plan. To implement this large-scale initiative, around 6.5 trillion tenge will be allocated from the National Fund by the end of 2029,» Kassym-Jomart Tokayev noted.
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