Kyrgyzstan is aiming for a GDP of $30bn by 2030 and $200bn by 2050, Ministry of Economy and Commerce, Akylbek Zhaparov, Chairman of the Cabinet of Ministers and Head of the Presidential Administration of the Kyrgyz Republic shared during a recent meeting of the board of the Ministry of Economy and Commerce.
Zhaparov emphasized the need for intensified efforts to steer the economy onto a sustainable development trajectory.
“We need to triple our efforts to put the economy on a sustainable development course and achieve the goals set by the Head of State to achieve a GDP of $30bn by 2030 and $200bn by 2050,” Akylbek Zhaparov asserted.
Acknowledging the pivotal juncture in economic development, Zhaparov stressed the importance of adopting innovative approaches. He stressed the potential for a comprehensive state program aimed at fostering new skills, particularly among the youth.
Additionally, he urged expedited progress on the "El doolotu - emgek" program, emphasizing collaboration between the Ministry of Economy and the Ministry of Labor to generate employment opportunities.
In addition to recent measures, such as reducing the National Bank's key interest rate and lowering Social Fund deductions for employers from 12.5% to 2%, Zhaparov proposed launching a new program to support domestic entrepreneurs in purchasing advanced technological lines.
He also highlighted the need to support small and medium-sized enterprises in expanding production and creating new jobs.
Zhaparov referenced his experience as former Minister of Finance and Economy, recalling a 12% GDP growth in the first half of 2007, and emphasized that interim successes should not lead to complacency.
The call for sustained efforts reflects his commitment to propelling economic growth amidst evolving global challenges, underlining the government's proactive stance in achieving long-term economic objectives.
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