Economic growth should be accompanied by reduction in social inequality and strengthening of middle class

The economic growth should be accompanied by a reduction in social inequality and a strengthening of the middle class, the Head of State said delivering his State-of-the-Nation Address themed Fair Kazakhstan: Law and Order, Economic Growth and Public Optimism at today’s joint session of the Kazakh Parliament in Astana, Kazinform News Agency reports.

The President said the people of Kazakhstan live today in quite new political realities. For the past five years the country carried out large-scale reforms, and its political system underwent through drastic transformations. Fundamental changes are taking place in social conscience, the society forms new models of behavior and new values are taking root. 

Kassym-Jomart Tokayev stated the renovation of the country’s political and social life, mentality, and cultural code of the nation began. The construction of the Fair Kazakhstan is underway and all this meets the people’s aspirations.

The Head of State said Kazakhstan sticks rigidly to the position of peaceful evolutionary track amid the escalation of the geopolitical confrontation.

The country’s inflation shrank by 2.5 times compared to the highest rates recorded last year. The international reserves exceeded 100 billion US dollars.

He stressed the processing industry outpaced the mining sector. It is essential to launch a new investment cycle. The Government and akimats should pay greater attention to restructuring the economy, and foresee a new mechanism aimed at ensuring sustained progress of Kazakhstan. The key goal is to raise people’s income. Economic growth should be accompanied by the reduction in social inequality and strengthening of the middle class to strengthen the country’s potential.