Kazakhstan's Social Modernization

Kazakhstan, the largest economy of the Central Asia has surpassed all the regional economies in terms of high GDPs, GNPs, exports and the last but not the least, smarter economy. Now, it is on the path of immense glory. Social development has been one of the main priorities of its government since i...

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Bibliographic Details
Published in:Defence Journal 2019-01, Vol.22 (6), p.86-92
Main Author: Khan, Mehmood-Ul-Hassan
Format: Article
Language:English
Subjects:
Banking industry
Citizens
Competition
Economic development
Economic growth
Entrepreneurs
Higher education
Housing
Human capital
Income taxes
Initiatives
Loans
Microfinance
Modernization
Mortgages
Multilayers
National banks
Natural gas
Nazarbayev, Nursultan
Presidents
Social change
Social development
Social policy
Society
Taxation
Values
Wages & salaries
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Summary:Kazakhstan, the largest economy of the Central Asia has surpassed all the regional economies in terms of high GDPs, GNPs, exports and the last but not the least, smarter economy. Now, it is on the path of immense glory. Social development has been one of the main priorities of its government since inception. It values human capital. It projects comfort of life. It guarantees basic necessities of life.President of Kazakhstan, Nursultan Nazarbayev announced "Third Stage of Modernization" during 2018 which has further consolidated its position in the regional as well as at international level. Now he has announced new social initiatives aimed at improving the lives of the citizens of Kazakhstan.The below given figure shows the importance of social development which is based on diversified but integrated policy initiatives to boost the life of ordinary people in the country by providing new mortgage loans, reduction of the tax burden for citizens with low wages, increasing accessibility and quality of university education, expansion of micro-credit, further expansion of the country's gas production. It has actually started a "new chapter" of social development in the country. Being expert on Kazakhstan and Central Asia I personally think that the competitiveness of Kazakhstan and its global authority would also benefit from the newly announced and implemented five social policy initiatives because it has multiplier effects.
ISSN:0257-2141