BAKU, Azerbaijan, October 28. Kazakhstan’s President Kassym-Jomart Tokayev has proposed declaring 2027 the Year of Large-Scale Nationwide Construction in his Address to the People of Kazakhstan, according to the presidential press service.
He said that construction and renovation of civilian infrastructure should begin in every regional center, district and settlement across the country.
"Thus, our common nationwide response to the approaching era of artificial intelligence is to build, and build again!" Tokayev said.
He noted that the initiative would include the construction of roads, airports, railway stations and healthcare facilities, including rehabilitation centers for children with special needs. Houses of creativity, sports complexes, libraries and research centers should also be built in all regions. Housing construction would remain an important task.
Tokayev stressed that improving public welfare is enshrined in the Constitution as a strategic priority of the state. He said the initiatives were being undertaken for the benefit of the country, particularly the younger generation.
The president also highlighted the need to improve the quality of public administration. He noted that significant budget funds were being allocated to infrastructure modernization, digitalization and industrial development, alongside private investment.
"Within the framework of large-scale construction, it is extremely important to carefully select projects, work with reliable companies and closely monitor every stage of implementation," he said, adding that the state apparatus must be prepared to carry out these tasks professionally.
Tokayev also called for a carefully considered macroeconomic policy, noting that the government had comprehensively revised the budget and tax systems in recent years. He said the effectiveness of state policy should primarily be assessed by its impact on citizens' welfare and economic activity.
"Our most important goal is to increase the income of the population. To achieve this, we must first and foremost systematically combat inflation," Tokayev said.
Describing inflation as a "silent enemy" that erodes citizens' well-being day by day, he noted that although price growth had slowed somewhat, inflation remained high. He called on the government and the National Bank of Kazakhstan to coordinate their efforts to curb and reduce inflation.
The president also urged the government to pursue a prudent budget and tax policy and create favorable conditions for strengthening the economy's production capacity and increasing business productivity.
Tokayev further called on financial market regulators to perform their duties effectively, noting that Kazakhstan's financial system remained relatively stable.
According to him, the country's banks have more than 75 trillion tenge in assets, while deposits have reached a record 52 trillion tenge. He added that 78% of deposits were held in the national currency, which he said reflected the growing value of the tenge.
Tokayev said the next important task was to channel accumulated financial resources into the development of the real sector of the economy. He also called on the National Bank to contribute to initiatives that support economic development alongside its responsibilities for maintaining price and financial stability.
