Kazakhstan commits 16 trillion tenge to agricultural sector growth

Country: Kazakhstan
Kazakhstan commits 16 trillion tenge to agricultural sector growth
26 April 2024

Kazakhstan has initiated a comprehensive plan called the "Strong Agro-Industrial Complex" to significantly boost its agricultural output from 2024 to 2028. The plan, open for public feedback until May 10, outlines a substantial investment of around 16 trillion tenge, with contributions from the national budget, local budgets, and extra-budgetary sources. The aim is to double the gross agricultural output to 17 trillion tenge by 2028 and increase agricultural exports to $10 billion.

Key strategies include diversifying crop cultivation, upgrading agricultural machinery, and implementing water-saving technologies. The plan also includes measures such as preferential lending, covering operational costs, financing forward purchases of agricultural products, and leasing agricultural machinery at favorable rates.

Moreover, the initiative emphasizes modernizing research infrastructure, universities, and experimental production facilities to enhance technological adoption and workforce competence in the agro-industrial sector. If successful, these efforts could significantly transform Kazakhstan's agricultural landscape and strengthen its position in the global market.

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