Nurly Zhol New Economic Policy to Help Kazakhstan Weather Global Economic Storm
In announcing Nurly Zhol one year ago, President Nazarbayev outlined five core goals that the fund would support. The first is to invest in short-term loans to small and medium-sized businesses, as well as larger enterprises. The second is to revive the banking sector by buying out “bad” loans. Third, the fund will invest in essential infrastructure, such as the construction of the “dry port,” the Khorgos-East Gate and the National Industrial Petrochemical Technological Park. The fourth goal is to continue construction of the EXPO 2017 infrastructure. Finally, the fund will assist in developing Astana’s transport infrastructure.
These reforms will help modernise the civil service, strengthen the rule of law, streamline customs barriers and draw on foreign investment to diversify Kazakhstan’s economy. Ultimately, people from all corners of Kazakhstan will be more connected and will have greater access to employment, income and high-quality services.