Prime Minister Olzhas Bektenov reported that high inflation was the main reason for the decline in real incomes of Kazakhstani citizens last year. At the same time, according to him, wages adjusted for inflation did not decrease in all sectors. This was reported by Qazaqyia.kz citing Kursiv Media.
During a joint session of the parliament chambers dedicated to the report on the execution of the 2025 budget, deputies asked why, despite economic growth, Kazakhstani citizens faced a decline in real incomes and what is being done to change this situation. Prime Minister Olzhas Bektenov noted that the government does not consider economic growth as an end in itself – it is only a means to improve the well-being of citizens.
"Well, this is a very important tool, and we must ensure dynamic economic growth to achieve the main goal. In recent years, overall, starting from the post-COVID period, Kazakhstan's economy has been growing dynamically. Approximately 5% annually. We believe this is good, and we need to stimulate economic growth to ensure the growth of all others," Bektenov said.
The head of government noted that last year Kazakhstan faced increased inflationary pressure, when in September inflation reached 12.9%. Now, thanks to the measures taken, it has been reduced to 10.4%, and according to calculations, it is planned to reduce it below 10% this year.
"It is clear that high inflation led to the fact that, despite the growth of nominal incomes, real incomes of the population decreased overall in the economy last year. But I want to emphasize here that if we look in more detail by sector, there are a number of sectors where incomes have grown. For example, in agriculture, the real incomes of rural workers increased by 9.3%. In such sectors as trade, communications, water supply and energy, incomes increased by an average of 4%, in transport – from 5% to 10% depending on the direction," Olzhas Bektenov noted.
The head of government added that this year all measures will be taken to ensure that real incomes of the population grow overall. For this purpose, a joint plan of the government and the National Bank to reduce inflation was adopted. Among the measures is the development of production of goods that are currently imported from abroad, which will reduce the import of inflation. In addition, enterprises receiving state support will be required to increase wages as part of counter-obligations.
Recall that the Government of Kazakhstan approved a comprehensive plan to increase incomes of the population for 2026-2029. One of the key points of the document is new obligations for businesses that receive state support.