Deputy suggests government to “turn on the printing press”

Tengrinews.kz – Mazhilis deputy Serik Egizbaev is concerned about the problems of farmers and calls on the government to support them.
The Mazhilis deputy sent a request to Prime Minister Olzhas Bektenov and Chairman of the National Bank Timur Suleimenov and said that he expects “specific and decisive actions to resolve the pressing issues of farmers.”

“Spring field work is beginning in the south of the country, other regions are also preparing for it, but by the end of 2024, subsidies in the amount of 296 billion tenge have still not been paid and debts to farmers continue to grow. In addition, there is already an additional need for 110 billion tenge for 2025. The chronic lack of funds to fulfill the state's obligations to farmers has become a systemic problem,” said Serik Egizbaev.

According to him, farmers have been waiting for their applications to be fulfilled for up to two years. Due to delays in payments from the state, they have to cover their expenses with expensive bank loans, which "worsens their financial situation."

"Over the past six months, issues of improving the system of financing the agro-industrial complex, including debts on subsidies, have been considered by the Committee on Agrarian Issues six times. Following each meeting, we sent recommendations and proposals to the government, but, unfortunately, the situation is not improving," the deputy said.

In addition, Egizbaev touched upon the issue of purchasing grain for farmers. According to him, deputies always receive the same answer to all inquiries - no money.

"The proposals to increase the emission of money supply are appealed to by the risks of inflation. But any student of the Faculty of Economics knows that inflation is money supply not backed by goods, and our farmers have put more than 26 million tons of grain alone on the market, we are not even talking about other types of products that also ensure the country's food security (...) In our opinion, the government is more active than farmers in supporting some sectors of the economy, which, figuratively speaking, make money out of thin air, without producing material values ​​for a single tenge, but at the same time earning trillions," said deputy Serik Egizbaev.

The deputy proposed that the government and the National Bank make a "bold and extraordinary decision" to increase the emission of money supply.

"Or, to put it simply, turn on the printing press at least for the volume of gross agricultural output and provide farmers with conditions for normal work. Against the backdrop of the government's transition from a policy of subsidizing farmers to a policy of affordable lending, such an approach will help farmers more painlessly adapt to the new economic conditions," the Mazhilis member added.

Earlier, Mazhilis Deputy Sergei Ponomarev addressed Prime Minister Olzhas Bektenov with a request in which he expressed concern about the problems of Almaty.