Kazakhstan initiates social reforms for betterment of society

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Omar Malik

President of Kazakhstan Nursultan Nazarbayev announced a package of unprecedented in its scope and content of social reforms. Mortgage at 7 percent, as in developed countries, reduced income tax, a record number of grants for university education, increased microcredit and gasification, which is designed to improve of the environment and the quality of life of the Kazakhstan population. In general, the plans of the head of the Central Asian republic are to build a social paradise in Kazakhstan.
President Nursultan Nazarbayev proposed to reduce the interest rate on loans to 7% and to reduce the initial payment and extend the repayment term to 25 years. To translate this idea into reality Nazarbayev suggests creating a special company that will attract about $ 3 billion and send for repayment of mortgage loans provided by banks on new terms.
In general, this plan looks quite realistic, especially considering the fact that the temporary load on the financial sector of the country will then pay off with interest. Here is a simple logic – the implementation of the program will give impetus to the development of the banking sector and housing construction, promoting the development of related industries, with the creation of new jobs.
The second reform is devoted to the working people of Kazakhstan. The President Nazarbayev suggested reducing the income tax at once 10 times for those who receive on average less than $ 200 a month.
The third initiative is aimed at increasing the accessibility of higher education and improving the living conditions of students. Nazarbayev instructed to allocate for the next academic year 20 thousand grants to the already existing 54 thousand. At the same time, more than half of additional grants should be directed to technical specialties.
As part of the fourth reform Nazarbayev instructed to increase micro crediting of Kazakhstanis this year by KZT 20 billion compared to last year. Here an important point – in Kazakhstan in recent years, the number of “semi-criminal usurers” representing loans on predatory terms has increased. And people, not having an alternative were often forced to agree to these conditions. Now the choice of the residents of the Republic should be greater, and regulation in this area will cleanse the sphere of unnecessarily enterprising businessmen.
Finally, the fifth initiative is the gasification of the country. The President of Kazakhstan proposes to stretch a new gas pipeline from Kyzylorda to Astana. This project is not only social sphere improvement but the improvement of people’s quality of life. Gasification will reduce emissions; improve the ecology in the central and northern regions of Kazakhstan. Only in the capital the amount of emissions will be reduced by 6 times.
In general, the social reforms of the President of Kazakhstan look quite viable and practical, although it will obviously not be easy to implement them. It is necessary to fulfill a number of conditions, in particular, at least to double the rate of construction, so that the offer in the housing market meets demand in the conditions of a reduced mortgage rate. Along with the increase in the number of grants and the construction of new hostels, it is necessary to upgrade and other sectors of the education sector, firmly tying it on the real needs of the labor market, so that graduates who have been graduated from state grants will bring real benefits to the country.
People want to believe that Kazakhstanis will benefit from all the advantages of the reforms taking place in the country within a short period.

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