“There is a tendency to increase the share of social spending, but at the same time we cannot call the budget socially oriented,” he said.
He referred to OECD states where social expenditures account for 15 to 30% of GDP, including pensions, support for the working population, health care, and social services.
“Funding for the construction of facilities is not provided. In Kazakhstan, the costs of the social sphere imply various investment projects, whose beneficiaries are business structures, ”said Konurov.
Analysis of the draft law shows that systemic errors are being repeated: the groundlessness of macroeconomic forecasts, an orientation towards the model of supporting the raw material structure of the economy of Kazakhstan.
GDP growth, projected in 2021 by 3.1%, means that the economy of Kazakhstan will not be able to recover to the level of 2019, which amounted to 4.5%. At the same time, the forecast of growth by 4.6% in 2025 is justified only by the growth of oil production and export of raw materials. Such a strategy does not correspond to the formation of a non-resource model of the economy.
Photo source: picture from an open source