Tokayev: «Over the past 14 years, inflation has reached the highest level in history.»

Kazakhstan's economic growth declined from 4.6 percent to 2.7 percent in the first 11 months of 2022. According to Kazinform, President of Kazakhstan Kassym-Jomart Tokayev said this at an expanded meeting of the government.

"Today we will discuss the preliminary results of socio-economic development of the country in 2022 and define the main tasks for the forthcoming period. There were many pressing issues. Economic growth declined from 4.6 percent to 2.7 percent in the 11 months of this year. Over the past 14 years, inflation has reached an all-time high of 19.6 percent. There is no doubt that this situation will have a very negative impact on the living standards and incomes of the population," noted Kassym-Jomart Tokayev.

Prime Minister of Kazakhstan Alikhan Smailov, in turn, noted that the government is implementing comprehensive measures to reduce inflation.

"As part of the work in this direction, measures are taken to increase the share of local products in the domestic market, develop mechanisms for storage and transportation of products, support for retail trade," - said Alikhan Smailov.