The Kazakh Prime Minister discussed measures
and approaches to achieving sustainable economic growth with representatives of
business and the expert community today. They also reviewed the drafts of the
new Tax and Budget Codes. Deputy Prime Minister and Minister of National
Economy Serik Zhumangarin announced approaches to conducting tax and budget
reform, stressing the need for innovations to address the challenges of
industrial development, infrastructure modernization, and the launch of new
growth points in the regions. The meeting concluded with the government’s
decision to work out the experts’ proposals and keep actively involving them in
advancing the most effective measures to elevate Kazakhstan’s GDP growth.
«Everyone understands the need to increase
state revenues in the current conditions but the main question is: ‘How to do
it?’ Of course, much attention was paid to how make tax administration effective.
Other experts highlighted structural reforms in the economy, more efficient
budget spending, greater accountability and transparency in the expenditure
part. The Prime Minister’s position today was to involve business as much as
possible in this dialogue, experts and, accordingly, develop balanced decisions,»
said Darmen Sadvakassov, managing partner of Dasco Consulting Group
«The tax and budget reform, as we now
understand, aims to strengthen public finances, ensure fair taxation, and
reformat budget expenditures for development. This is a very important goal
that should contribute to the growth of GDP and sustainable economic
development,» noted Elena Bakhmutova, chairperson of Kazakhstan’s Association
of Financiers.
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