Research seminar "The national economy in the new reality"

On February 15, 2023 a scientific-methodological seminar on the topic "The problems of national economy under the new reality" was held at the Narhoz University. "Problems of the national economy under the conditions of the new reality".

Representatives of the National Bank of Kazakhstan, scientists, business representatives spoke at the seminar.

Ayakoz Khanetova, the leading expert-analyst of the Scientific Research Center of the National Bank of the Republic of Kazakhstan familiarized the participants with the methodology of research of inflation expectations in the country. She dwelled on the causes of inflation growth in the country, shared the research in terms of inflation targeting mode, and dwelled on the types of inflation expectations, such as adaptive, rational, and irrational. She emphasized that expectations are divided into expectations of the population, expectations of business, expectations of the National Bank. The expert noted that the level of literacy, availability of lending programs and banking services, confidence in the banking system, the external environment affects the formation of inflation expectations.

The representative of the banking sector Zharkynbaeva Aigul Sabyrovna, candidate of economic sciences, noted that currently the banking sector of the Republic of Kazakhstan is undergoing another qualitative changes. Tougher regulation of banks by the Agency of the Republic of Kazakhstan on Regulation and Development of the Financial Market, the transition from previously introduced International Financial Reporting Standards (IFRS 14) to the new IFRS 9, competition in the financial market, etc. have necessitated changes in approaches to banking business. The speaker noted that market mechanisms alone are not sufficient to activate the innovation activity; the regulatory function of the government is needed.

Representative of the business structure Bakhytzhan Omarov spoke about the problems of business, among which he mentioned the problems with certification of products when importing them into Kazakhstan. He also noted that there are problems with the import of more innovative products due to the sanctions imposed on Russia, as Kazakhstan is perceived as its partner.

The problems of labor relations in Kazakhstan were considered. Based on the report of Serikzhan Khamitovich Berishev, Director of the Labor Research Institute and its vigorous discussion, the participants of the event formulated the following conclusion and proposal. The law established that the complexity of the work should be determined only on the basis of the Uniform Tariff and Qualification Handbook of Workers and Professions, the Qualification Handbook of Positions of Managers, Specialists and Other Employees, as well as some other regulatory legal acts. This, in fact, means, firstly, the mandatory application of tariff rates of workers and, as a consequence, the compulsory construction of tariff grids in relation to this category of workers. In addition, secondly, this requirement of the law prohibits the use of any methods to establish the complexity of the work performed, used, for example, in the construction of the so-called grade-based wage systems. Meanwhile, it appears that the methodologies of world-renowned consulting companies such as Hay Group, Watson Wayatt and others make it possible to determine a point estimate for each respective profession or position. In this way, the task of establishing scientifically based inter-digit and inter-department ratios in pay can be accomplished. This causes the necessity of introducing corresponding changes and additions into the labor legislation in force.

On the whole, there was a constructive exchange of opinions between a wide range of stakeholders on the issues of development of the national economy at the seminar.