Kazakhstan plans to phase out subsidies for milk, meat, and greenhouse vegetables by 2028, transitioning to preferential lending to boost agricultural economic independence, as announced by Deputy Prime Minister Serik Zhumangarin.
The Kazakhstan government, under the guidance of Deputy Prime Minister Serik Zhumangarin, has announced plans to phase out subsidies for milk, meat, and greenhouse vegetables by 2028. This decision was revealed during a government meeting on September 3, 2024.
The move is part of the “Decree on the Liberalization of the Economy,” which outlines a shift towards preferential lending for the agricultural sector. This transition aims to enhance the economic independence of Kazakhstan’s agricultural industry and foster long-term growth.
Zhumangarin emphasized that a detailed Roadmap has been approved to facilitate this transition, ensuring that farmers can adapt to the new system. The government’s strategy includes moving from direct subsidies to a model of preferential loans, designed to support farmers while promoting economic sustainability.
This policy change is expected to impact the agricultural sector significantly, requiring farmers to adjust to new financial frameworks as the country moves towards a more market-driven approach.
