Oligarchic capitalizm in Kazakhstan comes to end

The era of “oligarchic capitalism” is coming to an end in Kazakhstan and a period of social responsibility of the state to the citizens of the country begins,  President Kassym-Jomart Tokayev told.

“The state is very closely monitoring the activities of all major mining companies engaged in mining in our country. We cannot afford a significant income for money. We prefer the use of various social programs,” Tokayev said.

Kazakh President said that special attention will be paid to the expansion of production, environmental protection, as well as tax payments.

“If large industrial enterprises do not meet these requirements, we will be forced to end the partnership. This is by no means a threat, but simple, honest and fair rules of work, generally accepted throughout the civilized world,” the president said.

After the constitutional reform of the President of Kazakhstan, Tokayev submitted to the public the reform of the entire political system and, within its framework, proposed holding early presidential elections.

The presidential elections in Kazakhstan are scheduled for November 20, 2022, after which the elected president of the country will have only one seven-year term in office.

According to most experts on Kazakhstan, Tokayev is the most likely winner in the election.

Oct. 5, 2022