Kazakhstan - 03

Kazakhstan: Nazarbayev’s Annual Address and Revised Labor Code

In an annual address to the nation on 30 November, President Nursultan Nazarbayev reviewed and reinforced previous austerity programs and proposals, touching upon the further development of the Nurly Zhol (“Bright Path”) infrastructure plan and the “100 Steps” reform program. He also highlighted Kazakhstan’s relatively stable geopolitical position amid regional animosities, including the recent conflict between Russia and Turkey, two of the country’s strategic partners. Nazarbayev reaffirmed that the government will keep the free-float exchange rate and will not use any more state funds as in the past to uphold the tenge.

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