EFSD International Economic Conference Gets Underway in Astana
On October 29, the International Economic Conference “Towards Balanced Economic Development,” organized by the Eurasian Fund for Stabilization and Development (EFSD), opened in Astana. The conference brought together economic policymakers, representatives of international financial institutions, experts and academics to discuss the key factors shaping long-term economic growth in the Eurasian region.
Iaroslav Mandron, Managing Director of the EFSD, and Dauren Kengbeil, Vice Minister of Finance of the Republic of Kazakhstan, welcomed participants.
“Our task is to have an instrument for rapid response and rapid decision-making in the event of crises. I would like the Fund to become an institution that not only responds to crises but also helps our countries maintain the momentum our region has today,” — Iaroslav Mandron, Managing Director of the EFSD
“Over the past year, the Fund, as an independent organization, has significantly strengthened its position, and today’s conference is proof of that. Without developing human resources, neither progress nor economic growth is possible, which is why the theme of the conference is particularly relevant today,” — Dauren Kengbeil, Vice Minister of Finance of the Republic of Kazakhstan
The conference agenda covers four areas: macroeconomic policy priorities and fiscal sustainability; assessing potential GDP and the drivers of long-term growth; demographics, labour market transformation and migration; and high-productivity jobs and human capital.
The first part of the conference began with the plenary session “Staying on Top: Economic Policy Priorities in a New Cycle.” The discussion was moderated by EFSD Chief Economist Sergey Ulatov. Speakers included Indermit Gill, Distinguished Visiting Fellow at Stanford University’s Hoover Institution; Brian Pinto, former Senior Adviser at the World Bank; and Vitaliy Tutushkin, Deputy Governor of the National Bank of the Republic of Kazakhstan.
The discussion focused on balancing support for economic growth with fiscal sustainability and inflation control, the effectiveness of public spending on infrastructure and social programmes, and managing structural shifts, including the reorientation of trade and logistics and the risks of falling behind technologically.
The day’s programme also includes the presentation of the EFSD flagship report “Economic Growth, Demographics and the Labour Market: Realities and Challenges,” which examines labour markets in Armenia, Kazakhstan, Kyrgyzstan and Tajikistan, and two roundtable discussions: “Growth Potential of Eurasian Economies: Where Aspirations Meet Possibilities” and “Growth That Creates Jobs and Jobs That Create Economic Growth.”
Key sessions are being livestreamed on the conference webpage: efsd.org/conference.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financing arrangement with resources of US$9.8 billion, established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan. The EFSD’s core mandate is to help ensure the economic and financial stability of its member states and support their sustainable development. The EFSD is an integral part of the global financial safety net, serving as its regional component for Eurasia.
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