Agris Preimanis spoke about the reduction of state support. Motivation for private financing should be created, says the head of the EBRD in Kazakhstan
At the session "National priorities of Kazakhstan at the current stage of development" of the Astana Finance Days forum, the head of the European Bank for Reconstruction and Development (EBRD) for Kazakhstan, Agris Preimanis, voiced his opinion on the further development of the country's economy. This was reported by the correspondent of the Kapital.kz business information center.
“We are well aware that during the pandemic, the role of the state has increased significantly, and especially financial support from both the population and companies,” he said. - In Kazakhstan, support was very successful in this regard. We have seen that a major crisis has been avoided due to government action. But the moment comes when you need to think about reducing the role of the state and reducing support. There is a great risk that people and companies will start to get used to the support they receive. It is very important to choose the right time and the right way to reduce government support to companies and the population. "
According to the speaker, Kazakhstan faces the question of how to shorten its state support programs.
“There were many support programs in Kazakhstan before the crisis,” said Agris Preimanis. - And probably, this crisis and the end of the crisis will give very good opportunities for all of us to think about how to build state support in Kazakhstan. During the crisis, we more or less supported all companies, the entire population, and this approach is correct. But now there is an opportunity to think more strategically, to think about those sectors that we want to support more, where we see more potential for growth. And also think about support tools. "
Agris Preimanis specified that it is necessary to analyze in which projects the share of state financing should be reduced in order to increase the attraction of private investments.
“So that there was more motivation to raise private funding,” he explained. "You also need to think about how to change these programs in the direction of creating the right signals for companies."