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New priorities of the economic policy of Kazakhstan
Dyоmushkina L.O.
Kazakhstan, Academy of Public Administration under the President of
Kazakhstan
Galimzhanova S.B.
Kazakhstan, Kazakh university of economics, finance and international
trade
In modern conditions the economic policy became the major direction of
a state policy in any country of the world. As the factors of promoting the role of
economic policy could be considered:
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Complication of all spheres of public life, necessity of maintenance the internal and social peace,
freedom for the country;
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Integrated approach to the state policy, which is impossible without economic analysis;
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The environmental problems, which is considered to be solved by presence of country’s economic
possibilities;
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Strengthening the interdependence of national economies in the terms of globalization and contra-
dictions in the international relations.
Problems of the state economic policy are various: employment, inflation, circularity of development,
monopolism, social inequality, increase of competitiveness of national economy and etc.
The state creates the legal institutions ordering the relations between economic agents and guarantees
observance of this order. It aspires to support stability of economy as the market processes of self-organizing
proceeding in it not always lead to positive results.
The state economic policy is directed on achievement of the maximum public welfare. Therefore the
state is the representative of the whole society’s interests. Hence the state is interested in that possible negative
tendencies have not led to destructive consequences both in economy and in a society as a whole. That is to provide harmonious interaction of all public subsystems.
The general purpose of the state economic policy is similar in all countries with market system. The concrete directions and mechanisms of the state
economic policy (SEP) are defined by special features of national economy, its
condition and problems of development during the certain period [1].
The processes occurring in modern economy of Kazakhstan are difficult
and diverse. They reflect both internal requirements of the Kazakhstan society
and huge influence of various external factors because our country is the active
participant of world system.
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The state economic policy of the Republic Kazakhstan underwent the
considerable changes connected with necessity of formation of a market economy and the decision of social and economic problems for 21 year of its independence. However all these changes occurred within the limits of realization
the general purpose of the state economic policy defined in Strategy "Kazakhstan-2030", which is formation the advanced open market economy [2].
The state economic policy has been directed to formation of bases the
market system managing, creation and development of market regulators during
the transition of Kazakhstan to the market.
Realization of the objects caused the necessity of updating of economic
policy for maintenance the sustainable economic development of the country.
The president of Kazakhstan Nazarbayev N.A. in his message to the people of Kazakhstan on March, 19th, 2004 «To competitive Kazakhstan, competitive economy and competitive nation» has defined the high rates of economic
growth as the primary goal of state economic policy [3].
The interrelation of economic growth and competitiveness of economy
has predetermined as the key purpose of Government’s economic policy the diversification of economy and a withdrawal from dependence on oil and mineral
resources.
The economy of Kazakhstan varies by combination of small volume of
industry, insignificant diversification and low competitiveness. With a view of
these problems decision the state should has strategic economic policy directed
on achieving the sustainable development based on increasing the competitiveness of national economy. It assumes the satisfaction of current generations` requirements and doesn’t threaten the possibilities of satisfaction of future generations` requirements.
One of priorities of the Kazakhstani economic policy is maintenance of
the speeded industrially-innovative development which bases are formulated in
the Government program on the forced industrial and innovative development
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on 2010-2014 [4]. Realization of this program, Strategy of regions development,
“Route map of business 2020” and other programs provide investment activity
in the country.
Thus considerable volumes of investments on realization the large industrial and infrastructural projects within the limits of a government program of
industrially-innovative development in many respects promoted growth of internal demand. In turn this has provided industrial output growth in JanuaryDecember, 2012 on 0,5 % in comparison with the corresponding period of 2011.
Growth of manufacture volume in a manufacturing industry has made 0,7 %.
Realization of “Route map of business 2020” has provided production for
2011-2012 for the sum of 1,1 billion tenge. Social and economic effect of its realization in 2012 is maintenance of more than 50 thousands and creation of more
than 8 thousands workplaces [5].
Economic growth, internal political stability in our country has provided
possibility of orientation of a policy of the state on social and economic modernization. This was declared in the speech of the President of Republic Kazakhstan
Nazarbayev to the people “Social and economic modernization” in January,
27th, 2012. He has underlined that the main vector of Kazakhstani development
during the new stage is strengthening the economy and increase of people`s
well-being. And the purpose of social and economic modernization policy is to
prepare a society for a life in the conditions of new industrially-innovative economy, to find effective balance between the forced economic development of Kazakhstan and wide maintenance of the public blessings, to confirm the social relations based on principles of the right and justice [6].
Strategy “Kazakhstan – 2030” has designated a long-term way of development of our sovereign country, directed on its transformation in one of the
most safe, stable, ecologically steady states of the world with dynamically developing economy.
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However the politician of the state cannot be invariable even on a shortterm interval of time. The life in all its displays affects a state policy, introduces
in it corrective amendments. The changes which have occurred in economy of
Kazakhstan for years after acceptance of Strategy “Kazakhstan – 2030”, have
caused of formation of the new concept of the state economic policy. The Message of the President of Republic Kazakhstan of Nazarbayev N.A. “Strategy
“Kazakhstan -2050” - a new political policy of the advanced state" on December, 14th, 2012 [7] has been devoted this problem.
The leader of the nation has noticed that forward development of the Kazakhstan economy even in crisis of 2008-2009 has allowed our country to execute ahead the scheduled tasks in Strategy “Kazakhstan – 2030”. It does not
mean that the accepted Strategy “Kazakhstan-2050” cancels operating Strategy
“Kazakhstan – 2030”. The Strategy “Kazakhstan-2050” is a new political policy
of our country till 2050 in which realization the tasks Strategy “Kazakhstan –
2030”will proceed.
In Strategy “Kazakhstan – 2030” was a task of maintaining the economic
growth which is based on open market economy with high level of foreign investments and internal savings.
The president has noticed that Kazakhstan managed to solve this problem
in the shortest historical measures terms.
Here are some results of country’s economic development for 15 years.
The national economy volume has grown from 1,7 billion tenge in 1997 to 28
billions tenge in 2011. Country`s GDP has increased more than in 16 times.
GDP per capita has grown more than in 7 times and has made 12 thousands US
dollars in 2012. Kazakhstan is the leader in the CIS on volume of the involved
direct foreign investments per capita with volume of 9200 US dollars. Foreign
trade has grown in 12 times and volumes of manufacture of an industrial output
in 20 times. Since 2010 within the limits of the program of the forced industrial-
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ization 397 investment projects are realized by total cost of 1 797 billion tenge
and created more than 44 thousands workplaces [7].
Considering these achievements it is possible to argue that modern Kazakhstan is a dynamical country with an average level of the income and dynamically growing economy.
New realities form the new purposes and problems of state`s economic
policy. The president has paid them the special attention in his message to the
people. The base of the new economic policy should become the universal economic pragmatism which means forming of state economic policy related to
practical useful results. In order to live well it is necessary to work well and to
have effective economy.
Realization of a policy of the New course assumes the following:
- Acceptance of all economic and administrative decisions from the point
of view of economic feasibility and long-term interests;
- Definition of new market niches where Kazakhstan can participate as the
business partner in equal rights and creation of new points of economic growth;
- Creation of a favorable investment climate for the purpose of escalating
of economic potential, observing principles of profitableness and reflexivity
from investments;
- Creation of an effective private sector of economy and development of
state-private partnership.
In the Strategy “Kazakhstan-2050” the President has laid down the important aim stage by stage till 2050, to provide the decision of following seven
tasks.
1. Modernization of a macroeconomic policy of the state.
2. Essentially new approach to infrastructure development.
3. Control system modernization by the state actives.
4. Essentially new control system of natural resources.
5. Working out of the plan of the following phase of industrialization.
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6. Modernization of agriculture, especially in the conditions of growing
global demand for agricultural products.
7. The new policy concerning water resources of the country.
Here is more detailed considered some of these problems.
The decision of state macroeconomic policy should be carried out in such
major directions, as budgetary, tax and monetary, credit policy, policy of state
and external debt management.
The new principle of a budgetary policy is defined - to spend only within
the possibilities and to reduce deficiency to the greatest possible minimum that
will allow to solve more full problems of social and economic development of
our country. For maintenance the state budget stability the Government of Kazakhstan should constantly carry the control of the public debt level and also
debt level quasi state sector of economy which includes the National companies.
Growth of the last will increase deficiency of the state budget.
The obligatory requirement to the budgetary policy within the limits of an
economic pragmatism is the necessity of rigid selection of objects for investment about their expediency and return.
The president has noticed that the Government tax policy should stimulate
the market participants to competition, promote internal economic growth. For
this purpose it is necessary to provide a favorable tax mode for the objects of the
taxation in the field of manufacture and new technologies; to continue a liberalization policy of tax administration; to introduce practice of tax crediting for
stimulation of investment activity of businessmen. Besides, the new tax policy
should have the social orientation assuming; for example, practice of tax exemption for companies and citizens, who invests in medical insurance of themselves,
the family, employees.
The purpose of a monetary and credit policy in terms of universal economic pragmatism is to keep inflation rate comprehensible for economic growth
and protection of incomes of the population. As world practice shows controlla6
ble and moderate rate of inflation is one of criteria of the country`s social safety.
The president has charged to National Bank and the Government to develop
conceptually new system of a monetary and credit policy directed on maintenance of economy by necessary monetary resources.
One of the major directions of economic policy in new course defines development of an infrastructure which should expand possibilities of economic
growth. For the decision of this problem it is necessary to create industrial
transport and logistical objects outside of Kazakhstan and to develop transit potential of the country. It is important to underline that creation of infrastructure
should be subordinated to the profitability law which means, to build only there
where building will lead to development of new business and creation of workplaces. This is the requirement of an economic pragmatism.
The great value for social and economic modernization of Kazakhstan is
continuation of industrialization policy. In 2014 the first five-years period of the
Government program on the forced industrially-innovative development will
come to the end. The economic policy of a new course provides working out and
realization of the plan of the following phase of industrialization. Its purpose is
development of new manufactures with a stress on expansion of not raw sector
focused for export.
Full updating by Kazakhstan the industrial actives according to the newest
technological standards for maintenance of domestic goods competitiveness by
2050th should become result of realization of this direction of economic policy.
The government program on the forced industrially-innovative development
should be focused on import of industrial capacities and an exchange of technologies that will allow to modernize manufacture.
As the important step to realization of economic policy of a new course
should become the policy of the state on investments stimulation of the private
companies in researches and the innovations, which purpose is formation of the
demand for our technologies in the market. Only in this case real benefit will be
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reached, which means an economic pragmatism. In the same direction the state
policy on support of branches and the separate companies should be carried out.
It is necessary to give a priority to those managing subjects who carry out the
socially-important, strategic functions and prove the efficiency.
Institutional maintenance of economic policy realization of the new
course formulated in the Message of the President “Strategy Kazakhstan –
2050” should become the government programs developed in its major directions: on infrastructure development, industrialization, agriculture and etc.
References
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