THE MAIN GOAL IS THE DEVELOPMENT OF THE COUNTRY: OPINION OF EXPERTS

ON SOME LEGAL ASPECTS OF THE CAUSES OF THE EVENTS OF JANUARY 2022 IN KAZAKHSTAN

The reasons for the events of January 2022 in our country have deep roots. It was a splash of social, economic and psychological emotions that have accumulated in society in recent years. Today, after the fact, we analyze what happened and understand that the solution of the accumulated problems also has a deep systemic character. And their decision should have a purely legal form, and this will require serious work. As noted above, the most important problem is the economic issue. Low wages, high unemployment and an incorrectly structured pricing policy determined the highest level of dependence of the population on the banking sector. Even according to the most conservative estimates, almost 80% of Kazakhstanis have a loan, and some have several. Thus, in the first half of 2021 alone, loans to individuals in Kazakhstan reached 8.6 trillion tenge (or about $20 billion), which is 26 percent more than a year earlier. Consumer loans to the population amounted to almost five trillion tenge (or $11.7 billion), plus 19.4 percent for the year. At the same time, the growth in profits of banks in annual terms for the same 2021 increased by 18.7%.

It is clear that banks are an important element of the financial system. At the same time, such a high level of credit dependence of the population is a clear indicator of the low level of the population of Kazakhstan. According to the banks, the level of provision coverage of loans overdue for more than 90 days amounted to 75%.

This is largely justified by lending rates for both individuals and legal entities. Without analyzing lending to legal entities, let us dwell on the specifics of lending to individuals. On average, lending rates, despite the strengthening of banking regulation, continue to remain at the level of 14-15%, and this is against the backdrop of further growth in consumer inflation to 8.7% y/y. That is, banks are also guided by the growth of inflation, while inflation primarily hits the population.

14-15% is a very high level of bank rates. If we look at the statistics, we are currently competing with the banks of Ganna, Venezuela and Argentina. While bank rates from other countries range from 0.5 to 4.5%. And these statistics are only for consumer loans. Whereas for mortgage lending, the average rate in Kazakhstan is 19%, while in the developed countries of the world it is from 2.5 to 5% maximum.

At the same time, it should be noted that Kazakhstan is a country with one of the strongest banking regulators.

President of the Republic of Kazakhstan K.K. Tokayev calls on banks to provide all possible assistance in the development of the economy of Kazakhstan. At the moment, we see only some compensation in the form of payments to the public social fund “Kazakhstan khalkyna” (People of Kazakhstan). However, such one-time promotions are meaningless in the long run.

It is necessary to work out ways that would suit both the banking sector and the population of the country, which is getting poorer every year. Such interest rates are not acceptable and are aimed at enriching the banking sector. It is clear that banks work only for net profit and it is necessary to develop a policy that would encourage banks to improve the living standards of every Kazakhstani as a potential consumer of its services.

It should be remembered that the population that has money, not believing in the country's economy and in the stability of the banking system, seeks to withdraw fixed capital from Kazakhstan, as shown, for example, by the statistics of the last 20 days. And this undermines the interests of banks, above all.

In fact, this problem is systemic. Until there is a strong economy, jobs with decent wages, an attractive financial market, the problem of poverty and dependence will continue to prevail.

The National Bank of the Republic of Kazakhstan can reduce interest rates on loans by force, but banks will stop providing services under unprofitable programs, as it has happened repeatedly. It was on the initiative of second-tier banks that a number of state programs and projects were terminated. In this direction, it is necessary to conduct a dialogue between banks and the state, to work out a systemic set of measures to improve the situation in the field of credit policy. Constant pressure on conscience and social responsibility in relation to financial structures is a losing thing from the very beginning. We need to solve the problem in a different way.

And in my personal opinion, it is necessary to stop the practice of shifting funding to the country's budget, which no longer draws. In fact, many unnecessary projects are financed from the republican budget, which has become a feeding trough for the local bureaucrat and corrupt officials. This conclusion was made by me personally as an expert in anti-corruption expertise of legal acts. I think we have a lot of work ahead of us. Mistakes of past years will remind us of themselves for a long time.

Aizhan ZHATKANBAYEVA

Doctor of Law, Head of the Department of Customs,

financial and environmental law KazNU Al-Farabi

ISSUES TO ATTENTION TO

At the beginning of 2021, rallies were held by workers in the real sector in Mangistau and in a number of regions of Kazakhstan. They put forward demands to increase wages, improve working conditions, and upgrade vehicles. So, in the period from January 1 to October 8, 2021, 43 strikes were held in the Mangistau region, of which three strikes were in subsidiaries of KazMunayGas JSC and 40 in contracting and service organizations that are in contractual relations with subsidiaries of KazMunayGas JSC.

The workers argued their demands “because of the growth of inflation, that many of them often have to earn extra money on their days off in order to feed their families and pay loans. The price of oil exceeded $82 per barrel, which means that the company's revenues have increased significantly compared to previous years.” The workers' representative said that the extension of the subsoil use contract until 2046 guarantees a stable continuous production volume in the future, and therefore a stable income for shareholders during the term of the contract. Clause 6.8 of the General Agreement contains obligations in the field of implementing the principles of decent work in the Republic of Kazakhstan, a set of measures aimed at ensuring the level of real wages, improving income policy and raising the standard of living of the population.

In accordance with paragraph 19 of Article 23 of the Labor Code of the Republic of Kazakhstan, the employer is obliged to take measures aimed at preventing risks in the workplace, in technological processes, and to carry out preventive work. In determining risks, it is necessary to be guided by the criteria for assessing the degree of risk for compliance with the labor legislation of the Republic of Kazakhstan, approved by the joint order of the Minister of Health and Social Development of the Republic of Kazakhstan dated December 25, 2015 No. 1022 and the Minister of National Economy of the Republic of Kazakhstan dated December 28, 2015 No. 801.

The main reasons for strikes, rallies and other actions in organizations are:

1) the lack of internal mechanisms for quality administration - the availability of relevant regulatory documents, which should determine the ways of regulating labor, industrial relations;

2) regulations for familiarizing employees with working conditions, making decisions, including joint ones;

3) untimely communication of information to employees, including on issues of working conditions;

4) lack of a collective agreement (non-participation of the majority of employees in its preparation), lack of monitoring on it (at least once a quarter);

5) lack of access mechanisms for average technical, administrative and managerial personnel to internal regulatory documents;

6) non-transparency of the activities of trade union bodies, their lack of negotiating skills, knowledge, mechanisms for resolving both individual and collective labor disputes, as a result of which rallies are perceived by workers as the only way to resolve pressing issues.

An acute issue is the knowledge of the heads of enterprises, the middle link of the basics of labor legislation, their possession of negotiating skills in crisis situations.

In view of the foregoing, it is necessary to conduct comprehensive training for all top managers, middle managers and line managers of production enterprises, since knowledge of the basics, specifics of the application of labor legislation, and staff training will allow them to make quick and necessary decisions in anti-crisis situations.

Dauletbay RYSKALIEVA

PhD in Law,

senior lecturer of the department

civil law and civil process,

labor law legal

Faculty of NJSC "KazNU named after al-Farabi"

RAISING THE FINANCIAL MARKET OF THE COUNTRY TO A NEW LEVEL

As you know, the beginning of 2022 was a shock for Kazakhstan due to the current situation, the introduction of a state of emergency in the country and a new wave of the coronavirus pandemic (omicron strain).

At the same time, back in December 2021 (less than a month ago), the situation in the financial market of Kazakhstan remained quite favorable.

So, according to the press release of the National Bank No. 36 dated December 29, 2021, in November 2021, inflation was 0.7% (in November 2020 - 0.9%).

For the year (December 2021 to December 2020), inflation was 8.4%. Food prices increased by 9.9%, non-food - by 8.5%, paid services - by 6.5%. (Source: Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan)

Thus, we can say that the January tragic events did not have any tangible impact on the state of the financial market of the Republic of Kazakhstan, its stability and development has been preserved.

At the same time, in the light of recent events, the President gave instructions on inflation and the tenge exchange rate. “A stable economic market is impossible without ensuring stability in the foreign exchange market. Against the backdrop of what happened and the state of emergency, serious markets of speculative pressure on the national currency arose. I instruct the National Bank and the Agency for Regulation and Development of the Financial Market to ensure the stability of the foreign exchange market until full restoration of confidence in the tenge on the part of internal and external market participants,” K. Tokayev said in a conference call at a meeting of the Majilis.

The President said that for many years high inflation has been a key problem for our economy. “It reduces the effectiveness of economic and social policies. The time has come to put an end to this issue, to stabilize prices and inflationary expectations of the population. We need systematic work to reduce inflation. Threshold corridor of 3-4 percent by 2025. The government, the National Bank and the National Chamber of Entrepreneurs will have to develop a set of measures to control inflation,” K. Tokayev added.

In this regard, the joint efforts of the Government and the National Bank in 2022 are primarily aimed at reducing inflation to the level of the target corridor, stabilizing the exchange rate, as well as reducing import dependence, which should contribute to balance and stability in the economy.

I would also like to dwell on some topical issues.

First, this shutdown of the Internet in early January almost immediately paralyzed the work of all financial institutions (banks, insurance companies, broker-dealer companies, etc.). Mobile applications of financial entities turned out to be useless, transfers and payments became impossible. This clearly shows the dependence of the functioning of the financial sector of our country on this resource. The expected introduction of digital currency in the country will also increase the urgency of this problem. Thus, this state of affairs carries significant risks, therefore, it is necessary to learn lessons and develop backup IT solutions to maintain the smooth conduct of financial transactions in case of excommunication in the country of the Internet and the SWIFT system.

The second is the human factor (risk) in the system of the country's financial bloc. The fact is that in our financial sector there is practically no practice of measuring and controlling human risk. The head of the department does not know the psychological portrait of his employee, does not know his problems and worries. You may object that he does not need to know this and you will be wrong. As world practice shows, the cause of many crimes, both in the financial sector and in any other, is precisely the above type of risk. An employee can perfectly fulfill his job duties, but at a certain point in time, his personal problems and experiences can transform into rather tragic consequences. Therefore, it is necessary to carry out psychological testing and other actions on an early basis to identify personal problems of financial sector employees on an ongoing basis.

Also, in order to stimulate the development of the institution of "green" finance in the country, I consider it necessary to work out the issue of introducing a new type of loan "green" credit into the credit line of second-tier banks. In this regard, it is advisable to study the experience of China, which is the world leader in the field of "green" lending.

There is a need to study the experience of Turkey and other countries in maintaining the stability of the exchange rate.

I also consider it necessary to study the experience of El Salvador, which was the first in the world to introduce the bitcoin cryptocurrency as an official means of payment.

The approval of a new version of the Concept for the Development of the Financial Market of Kazakhstan until 2030, expected in 2022, is critical for the country's financial market.

The concept defines seven priorities for the development of the financial sector.

The first priority is to ensure financial stability.

The second priority is to increase the competitiveness of financial institutions.

The third priority is to restore the role of the banking sector in financing the economy. Banks' underwriting procedures will be improved to ensure responsible lending and quality growth. Prudential regulation will remove barriers to lending to the economy. Risk-weighting will take into account the real volume of risks for various types of loans.

The fourth priority is to improve the quality of corporate governance, risk management standards and information disclosure of enterprises.

The fifth priority is to increase transparency and diversify the ownership structure of financial institutions. To this end, the requirements for financial institutions to disclose information on the structure of ownership and management, capital adequacy, and exposure to risks will be strengthened.

The sixth priority is to improve financial inclusion and financial literacy.

The seventh priority is the introduction of new technologies and innovations.

The implementation of the main directions of this Concept will significantly strengthen and raise the country's financial market to a qualitatively new level.

The introduction of the digital tenge in 2022 and the further development of the fintech sector should also have a positive impact on the overall situation in the country's financial market.

Yerbol SIGAEV

Doctor of Economics, Associate Professor,

and about. HSEiB professors

Al-Farabi KazNU

DO NOT SUCCESS TO INFORMATION PROCESSING OF DESTRUCTIVE FORCES

We have all witnessed how our country was subjected to an unprecedented terrorist attack. Destructive forces took advantage of peaceful demonstrations on socio-economic problems and launched well-planned, controlled terrorist actions, especially cruel ones in Almaty.

First of all, I would like to note that the President of Kazakhstan, Kassym-Jomart Tokayev, took these events under his personal control from the first hours, declared an emergency situation, first in Almaty and a number of cities, then throughout the country, and began to make decisions step by step. It is gratifying that from the first day information support was provided on TV, which covered events, speeches by the president personally and members of his team. Then all residents began to receive SMS messages from Akorda.

We citizens of Kazakhstan admire the courage of our President K.-Zh.K. Tokayev, who not only made emergency decisions, but boldly named the mistakes made by some special services.

Now many foreign experts are discussing the decision of President K.K. Tokaev about the request to introduce the CSTO peacekeeping forces. As an international expert, I consider this decision correct and timely. It must be understood that the peacekeeping forces do not engage in hostilities, they are only engaged in security operations. Aide to the President D. Abaev clearly explained this to all citizens of Kazakhstan. Therefore, there can be no question of the loss of the sovereignty of the country.

I would especially like to note the tweets of President K. Tokayev addressed to foreign countries and international organizations, in which a clear picture of the events taking place in our country, the nature of an unprecedented hybrid terrorist attack in many cities of Kazakhstan was clearly presented.

Supporting the slogan of the President of Kazakhstan K.K.Tokayev “Strength in unity”, I once again urge my fellow citizens to treat these tragic events with understanding. Measures are being taken to restore order, to provide assistance to injured civilians and business representatives.

We will remember with gratitude the feat of our police and military personnel who defended our security at the cost of their lives.

Now the president has been tasked with learning the lessons of these tragic events in order to prevent them in the future. The fight against religious radicalism in Kazakhstan requires an integrated approach, which should include measures of a political, economic, social, and, of course, military nature. It is necessary to further develop cooperation with the Central Asian countries, which should be carried out evenly in all areas - border control, the fight against drug trafficking and arms smuggling, etc.

In the process of relevant activities, more attention should be paid to preventive measures. At the same time, all the levers of providing a preventive impact on the real situation should be involved: political, social, economic, legal, educational, informational, propaganda, etc. As a teacher, I appeal to our youth, our talented and creative youth, not to succumb to the information processing of destructive forces.

Kuralai Bayzakova

Professor of the Faculty of International

relations KazNU named after al-Farabi

MODERNIZATION OF PUBLIC CONSCIOUSNESS - THE WAY TO CHANGE SOCIETY

The formation of civil society in Kazakhstan takes place in the conditions of the development of a market economy and catching up modernization. Modernization of public consciousness in conditions where education becomes a fundamental success factor will lead to a change in the technology of interaction between the state and citizens.

The modernization process is phasic, multifactorial, historically invariant and reversible; it has regional and civilizational specifics and proceeds with different speed and intensity in different social subsystems and at different stages of development (Astana, 2017:12). The peculiarity of the development of civil society in the conditions of modernization of public consciousness will reflect the historical and socio-cultural conditions for the development of the Kazakh society.

An online survey conducted in June 2021 among students of the Faculty of Geography and Biology, and the Faculty of Philosophy and Political Science (160 students) of Al-Farabi Kazakh National University showed the value priorities of student youth. To the question “What values ​​are you guided by in everyday life?” (Table 1) showed a high percentage of civic values ​​(67%) that young people are fully guided by.

Table 1 - The role of values ​​in everyday life

 What values ​​guide you in everyday life? Fully/Primarily/Partly /

1. religious 56/44/42
2. National 52/65/25
3. civil 67/57/18
4. Patriotic 64/46/32

The remaining answers are distributed as follows: patriotic values ​​are in second place (64%), national values ​​are in third place (52%), and religious values ​​are in fourth place (56%). However, in everyday life, student youth is mainly guided, to a greater extent, by national values ​​(65%). It seems to us that it depends, first of all, on the life situation and circumstances. This also applies to the answer in part, which also demonstrates the situational nature of the choice, where religious values ​​are chosen to a greater extent (42%). Thus, we think that civil, patriotic values ​​are more often declared in society, but in reality, young people are faced with problems of a national and religious nature.

To the question “Who do you trust first of all?”, 92.3% of respondents mentioned their parents. Assessment of the degree of trust of young people in a five-point scale showed their preferences in a visual form (Table 2).

       Table 2 - Degree of trust in society

Please rate the degree of trust (on a 5-point scale)1/2/3/4/5

1. Parents 2/2/5/13/120
2. Relatives 9/14/41/44/34
3. friends 13/19/46/43/21
4. State 36/31/42/19/14
5. Public organizations 43/27/45/16/11
6. Business structures 41/27/45/18/11

Here one can observe a higher degree of trust in informal agents of socialization such as parents, relatives and friends, and accordingly they receive a higher score compared to formal agents of socialization, represented by the state, public organizations and business structures.

The protests, which began with a peaceful rally of the common people, and turned into a mass disorder in many cities of Kazakhstan, especially in the city of Almaty, showed how there is a lack of trust on the part of Kazakhstani youth in formal institutions, primarily the state, given that a lot of people participated in the protests. youth. The youth wants democratic changes, but unfortunately, they have become victims of terrorist, religious elements who have taken advantage of the situation. Here another problem appears. She succumbed to the persuasion of terrorist elements because she did not have enough personal potential to resist. If you list what is part of the personal potential, then this is material security, employment, educational, cultural level, self-sufficiency, trust in oneself and others (informal and formal agents of socialization).

In the near future, engaging in the social well-being of citizens may become the primary task of our state. There is no need to chase after the number, passing off numbers as reality, President K.Zh. Tokayev noted in an address to the people of Kazakhstan (Tokayev, 2022). This means moving from promises and verbosity to action.

The creation of a civil society is directly related to raising the civic consciousness of the population, and self-responsibility. Modernization of public consciousness is the path that will lead the people to self-government. Where there is management, there must be a place for self-government. This is a synergistic effect, connecting multidirectional parties. Trust in yourself, in your ability to change not only yourself, but also social reality will lead to change. Therefore, the reasons for the growth of institutional mistrust among student youth should be sought not only in the incorrect activities of state institutions, but also in informal agents of socialization, such as family, friends, etc. and the personality itself. Thus, there is a complex work aimed not only at changing the system itself, but also the people themselves.

Gulnapis ABDIKEROVA

Doctor of Sociological Sciences,

Professor of the Department of Sociology and Social Work

A CRITICAL MASS OF SYSTEMIC CONTRADICTIONS IN KAZAKHSTAN AS A FACTOR OF THE JANUARY SOCIAL EXPLOSION

Head of State K-Zh.K. Tokayev, in his Address to the people of Kazakhstan on January 11, 2022, showed the consequences of violating the inviolability of the fundamental unity of production and distribution of national income: “The socio-economic system created in the country has shown sufficient efficiency in ensuring the overall growth of national income, but at the same time it is inefficient in its distribution ..” .

This gap could not but give rise to systemic contradictions and lead to a social explosion. In connection with the events that have taken place in the country, there is a need to identify cause-and-effect relationships of growing social tension. After all, outwardly everything was fine in Kazakhstan. On the eve of the 30th anniversary of the country's independence, the media reported that according to the international association of independent research agencies Gallup International, "Kazakhstan entered the top five countries in the world with the highest index of population happiness in 2021."

Credited consumer well-being of the population, inflation, devaluation and critical external debt. From the first years of market reforms, attributes of Western consumption and elements of urban social infrastructure began to appear in the country. Government officials reported on the growing well-being of citizens: the saturation of the consumer market, square meters of housing, schools built, road junctions, and so on. After years of total shortages, critical imports of goods narrowed the gap between supply and demand, but increased external debt, inflation grew, devaluation devalued the tenge by more than 100 times. In recent years, the trade deficit has been covered thanks to growing supplies from the CIS countries. Domestic production of consumer goods has not recovered so far. Accordingly, employment and incomes of the population do not grow. Salvation is an unlimited opportunity to take consumer loans from banks and micro organizations. Loans are also involved for the down payment of the mortgage. Returns are often covered by refinancing. The spiral of credit dependence is unwinding. A life burdened with debt is not an indicator of income growth. Perhaps that is why the number of suicides among the adult working-age population has increased in the country.

The country's external debt is approaching critical (90% of GDP in 2021). According to the National Bank of Kazakhstan, the country's debt as of July 1, 2021 amounted to $166.7 billion, which is $6.9 billion, or 4.3%, more than the same period in 2020. The main part of the debt is the debt of the quasi-public sector, private companies, as well as intercompany debt of TNCs. However, defaults in 1995, 1998, 2014 were prevented at the expense of public resources, i.e. taxpayers.

Here the main explosive contradiction between production possibilities and consumer preferences is highlighted.

Limited business opportunities with numerous road maps. In his address to the people, the Head of State K.K. Tokayev openly stated: “The current system is focused mainly on serving large structures on the principle: “everything to friends, the rest - according to the law,” and also that oligopolies “… divert state resources that could be used to develop small and medium-sized businesses.” .

Having created a society of imitated general consumption, limited in the ability to create a national product, increase real incomes and forced to live on credit, the state contributed to the enrichment of the oligopolies through the price mechanism. The country, rich in natural resources, educated labor resources, constantly experienced the grip of inflation and devaluation. Those who had access to the distribution and appropriation of assets began to enrich themselves, while those who lost the opportunity to earn the most vital necessities fell into poverty, not only physical, but also social.

If physical poverty could be “drowned out” by small, periodic targeted transfers, it would take years to overcome social poverty.

The liquidation of collective farms and state farms led to an outflow of the population to the cities, i.e. to false urbanization, overpopulation of large metropolitan areas by uneducated youth and unskilled workers. But there are not enough new quality jobs in the cities. The city-forming enterprises inherited by the Soviet system were ruined, new ones were not created, despite a number of state programs and trillion-dollar investments.

Banking policy is not adequate to the requirements of a balanced structure of the economy.

For all 30 years of market development in the country, the balance between the real and banking sectors of the economy has not been achieved. Monopoly high prices for all types of bank loans are a permanent factor in the instability of the economy.

In countries with an adequate banking system, the margin does not exceed 6-7%; in Kazakhstan, a product purchased with a consumer loan is 3-4 times higher than its market price. Small and medium businesses are trying not to attract bank loans. As long as the banking system is not focused on the needs of the real sector of the economy, crises are inevitable. At present, the monopoly banking policy suppresses business, which has not become a sufficient source of credit resources. Interbank credits and external loans for the formation of credit resources are not the best conditions for a reasonable pricing policy of banks.

Apologists for the authorities may not see in these circumstances the cause of the social explosion, arguing that "there are countries where life is worse." First, if we are talking about some post-Soviet, then there is no guarantee of calm. If we are talking about the far abroad, then in many developing countries poverty and hunger are a historically common problem. And in the countries of the post-Soviet space, social justice and equality were considered the main asset, guaranteed work, income, education, and health care remained in the memory of the people. The unemployed and the poor were considered a sign of another world. Perhaps guarantees are not the best mechanism of motivation, but people were protected from the feeling of hopelessness and insecurity, and, accordingly, from the need to protest in large numbers. Having lost social guarantees, but at the same time, having received a “picture” of how they live in far abroad countries, the people consciously protested.

The current social environment. The consequences of youth unemployment are especially severe. In recent years, universities of local importance have begun to close in the regions. The relatively low cost of education and proximity to places of residence were factors of economical and affordable education. Perhaps the level of knowledge lagged behind the requirements of the Ministry of Education, but met the basic requirements of local small and medium-sized businesses, the development of which, unfortunately, received insufficient support from banks and the state. In the absence of colleges, which are not always perceived by parents and young people themselves as a “decent education”, functioning universities were necessary for young people from families with low incomes, and sometimes unemployed. In addition, education, even if not of the highest quality, has a beneficial effect on the personality of a young person. What could these young people do? Migrate to the cities and find yourself in a hopeless search for any job without a fixed place of residence.

Thus, an unprecedented layer of marginals and lumpen appeared, which discredited the peaceful social protest. Many participants in the rallies were sure that they were joining the ranks of those demanding justice. It turned out that there were many hooligans in the crowd, criminals who provided a resource to cover the terrorist forces. As you know, hopelessness causes depression and prompts the search for non-legal ways out of the existing traps. Maybe that's why the country leads the world in teenage suicide. In families where they constantly experience material problems, adolescents, whose psyche is the most vulnerable, suffer first of all. In recent years, there has been an increase in suicide among young people and adults.

Surprising administrative decisions of individual departments:

Against the backdrop of the prevailing social problems, the actions of some departments are puzzling, for example, the statement of the financial regulator to write off penalty interest on overdue loan payments without explanatory support, which became the reason for unreasonable demands of borrowers to write off debts on loans, for social tension and protest rallies of borrowers.

No less strange was the decision of the UAPF management to raise the threshold for the adequacy of pension savings to withdraw their excess. Such a schematic decision associated with an increase in the minimum wage, against the backdrop of an unprecedented increase in housing prices, was a blow to the hopes of the population for mortgage housing.

Prices per square meter of housing in Kazakhstan do not correspond to the average income of the population. During the housing boom, second home prices rose to a greater extent. In addition, Kazakhstanis began to buy housing in Turkey. Question: Does the leakage of the reserve currency compensate the state for the extra incomes of some construction companies? Affordable housing for young families is so inaccessible due to bureaucratic heaps that it is easier to take out expensive mortgages and live in poverty under your own roof.

Conclusions and expectations.

Antimonopoly actions and support for domestic business in the real sector of the economy, primarily import substitution, are needed.

There is a need for a corporate securities market as a mechanism for the overflow of capital, including through IPOs. The failure of the "people's IPO" program is the result of monopoly.

The decision of the Head of State on the creation of the People's Fund will become an effective mechanism for withdrawing excess profits from individual companies through exercises. At the same time, in a country where the economy does not have a mechanism for the formation of an average rate of profit, excess profits arise in many other structures where there are no excise products. For example, in the banking system and the construction industry.

It is expedient to expand the construction policy to the regions. Land nationalization would expand legal options for private investors.

State support for the countryside is seen not only in subsidies for doing business, but also in the creation of industrial and social infrastructure. Local authorities have administrative resources to organize support funds, inflow of investments, etc.

It is possible to keep the migration of the rural population to the cities with the nationalization of farmland and the creation of farms on the basis of public-private partnership.

Consumer loans should become available only if they are issued to solvent borrowers, i.e. with sufficient stability.

For young university graduates, it is necessary to determine job quotas. In the regions, the opening of entrepreneurship training centers and colleges on a reduced program can reduce the outflow of young people. To soften the requirements of the Ministry of Education and Science of the Republic of Kazakhstan to regional universities, not to deprive of licenses, but to promote and support the formation and development of the educational and methodological base, teaching staff.

The solution of personnel issues in economic management is directly related to the system of fundamental economic education. It becomes obvious that the continued dominance of business education to the detriment of fundamentals does not allow creating a category of managerial personnel, an intellectual elite.

Madina TULEGENOVA,

Dan. Professor of the Department of Economics

Al-Farabi KazNU