Kazakh parliament to conclude summer recess
The Kazakh Parliament will return to its regular schedule today after taking a 2-month summer hiatus.
Among the 35 bills to be discussed during this legislative session is the 2022-2024 budget. While the budget has already received government approval, it must now pass-through parliament.
Against a backdrop of the Covid-19 pandemic, the 3-year budget is aimed at improving the well-being of citizens and economic recovery. As half of Kazakhstan’s population reside in rural areas where poverty is rife, Covid-19 will likely continue to exploit Kazakhstan’s economic vulnerabilities. To remedy this, the government intends to allocate $4.7 billion USD in 2022 for economic development.
One area of particular interest to the government is infrastructure. The Kazakh government is expected to employ a portion of the $4.7 for Nurly Zhol, a 2020-2025 stimulus plan. Its primary focus is on electrifying railways and repairing local and national roads. This additional funding will help continue existing infrastructure updates. If accomplished, easier travel and transport in rural areas will make jobs and social services more accessible, resulting in a larger positive effect on the Kazakh economy as a whole.
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