Tokayev calls for accelerating the construction of two nuclear power plants and creating a long-term uranium reserve

Nuclear energy and the uranium reserve

In his annual address to the people of Kazakhstan, as reported by Euronews,President Kassym-Jomart Tokayev called for creating a long-term national uranium reserve and accelerating the construction of two nuclear power plants. According to him, construction of the Balkhash Nuclear Power Plant could — and, he said, is 'perhaps even necessary' — begin as early as next year, and a comprehensive cooperation agreement should be signed as soon as possible so that construction of the Moinkum Nuclear Power Plant can start at the earliest opportunity.

Criticism of the energy sector

Tokayev named nuclear energy as one of the ways to achieve an electricity surplus, which he considers necessary for the digitalization of the economy and the adoption of artificial intelligence. At the same time, he criticized the government for inefficient management of the industry and corrupt schemes: according to him, in winter Kazakhstan buys electricity from its neighbors at high prices, and in summer sells it back at significantly lower prices. 'This is a fairly simple kind of

Logistics and the economy in figures

A significant part of the address was devoted to the country's transport role. Tokayev stated that the vulnerability of maritime routes increases the importance of land corridors, and called for turning Kazakhstan into 'the leading logistics hub of Eurasia,' moving from the role of a transit country to that of an organizer of international cargo flows. He mentioned the construction of the Priaral-Caspian highway, which began in August and is expected to shorten the Trans-Caspian route by 1,000 km and cut cargo delivery times to three days, as well as the launch next year of the Bakhty — Ayagoz railway, the third railway crossing with China, which will increase transport capacity by 20 million tons.

Economic indicators and infrastructure plans

Citing an IMF forecast, Tokayev presented figures showing that Kazakhstan's GDP this year will exceed €350 billion (47th place in the world), and GDP per capita will reach €17,000. Gold and foreign currency reserves, together with National Fund assets, have exceeded €110 billion, bank assets stand at €130 billion, and savings have reached a record €94 billion, of which about 78% are in the national currency. The president declared next year the Year of Universal Construction: the regions plan to build about 70 medical and 50 educational, sports and cultural facilities, and the National Fund is to allocate about €12.8 billion for infrastructure by the end of 2029, of which almost €3 billion will go to social projects in the coming four months. The address, which is usually delivered earlier, came two months later than usual this time and two days after Republic Day, on the eve of the 35th anniversary of Kazakhstan's independence.