Economics

Now all institutions will be tested for strength - Dariga Nazarbayeva about crisis moments in economy

courtesy of RK Senate press service
Senate speaker, Dariga Nazarbayeva is concerned about the country's self-sufficiency, especially in the coronavirus pandemic. She wrote about this in an article published in Kazakhstanskaya Pravda newspaper, the Senate press service reports.

In early March, Parliament held a hearing in the Upper House on the topic "Light industry in Kazakhstan: current status and prospects for the development of a high-performance business."

Dariga Nazarbayeva noted that the deputies, together with representatives of the industry, did a great job to identify the key problem areas in the sphere, and prepared a number of proposals for the development of Kazakhstan's light industry. However, the disease, which took all countries by surprise, makes us reconsider the role of the industry in the country's economy.

“The consequences of the coronavirus pandemic for the world and our economy can be dire. All the usual ties in all areas are being destroyed,” the head of the Chamber added.

Raising the key issues of the country's security in crisis situations, the Senate speaker emphasized the need for pooling together the reserves in all the economy sectors.

"We can’t leave everything at the mercy of the market. We need to fundamentally review industrial policy. It is vital to restore mobilization capacities and state reserves to respond to unforeseen situations," Dariga Nazarbayeva opined.

She made a special emphasis on the fact that the regions, based on their specifics, need to provide special mechanisms for responding to emergencies.

"Our economy is not flexible, as it turned out. The fall in energy demand associated with the pandemic and the oil wars created a situation of unprecedented challenges for the economy of Kazakhstan. Now all institutions will be tested for strength."

According to Dariga Nazarbayeva, all possible resources should be invested in the development of manufacturing industries, including in the light industry.

“But most of all it concerns agriculture, which ensures food security of the country. Hard times have come. We can refuse from a lot, but there should always be plenty of food, clothes, shoes,” she said.

Dariga Nazarbayeva also highlighted the role of the agricultural sector in the country's economy.

"The agro-industrial complex should become an independent source of raw materials for the sectors of the economy that ensure the country's food independence and satisfy the basic needs of the population in everyday goods," she said.

Summing up, the Senate speaker stated the need to review strategic documents.

“All development programs need to be adjusted for possible crises. These could be pandemics, climate change, hostile actions, structural collapses in the commodity or financial markets, and much more that we do not want for our country, but that we should be prepared for” , - said Dariga Nazarbayeva.

18:23, 30 March 2020
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