In his closing remarks at an extended government meeting, the President of Kazakhstan reminded that he had already outlined "specific directions for reforms and approaches to their implementation."
"The government must make difficult decisions and, most importantly, implement them to prevent economic stagnation and ensure sustainable development," the president is quoted by the Akorda press service. "No matter how difficult it may be, the government must ensure total savings of funds and their expenditure only on addressing the most pressing issues. It is time to tighten our belts and live within our means."
The new reality of the global economy is characterized by tariff conflicts and sanctions confrontations, which could lead to severe consequences, Tokaev emphasized.
"The climate agenda will undergo significant changes, leading to a revision of approaches to the development of green energy," the president believes. "On one hand, this will support demand for traditional energy resources. On the other hand, it will destabilize prices for oil, gas, and coal."
A shift towards the widespread use of cryptocurrencies and other digital assets is emerging in the financial sector, Tokaev also noted. "The development of artificial intelligence is becoming a fundamental factor, and competition among leading technological powers is intensifying in this area," he said, concluding: "Under these conditions, we need to have a clear action strategy aimed at overcoming the serious challenges of the new era."