BAKU, Azerbaijan, October 30. The International
Monetary Fund (IMF) recommends that Kazakhstan further develop its
private sector and gradually reduce state participation in
competitive industries, Jihad Azour, Director of the Middle East
and Central Asia Department at the International Monetary Fund
(IMF), said during an online briefing, Trend reports.
He noted that Kazakhstan’s public debt remains relatively low,
while its reserves are estimated at $100–130 billion.
“The policy we recommend to countries in the region is to let
the private sector take the lead, with the government acting as an
enabler rather than a competitor. In the case of Kazakhstan, we
believe private investment should become the main driver of
economic growth, while the state gradually exits sectors where
state-owned enterprises compete with private businesses,” Azour
said.
