"The oil and natural gas sector and the general raw materials industry will be the main contributors to this objective," the president said, adding that the republic would emerge as one of the 10 leading oil and gas exporters in 2012.
"Industrial output is expected to more than double, and its share in GDP will increase 40% by the beginning of 2010 compared with 2005," Nazarbayev said.
The president said reform of the electric power sector designed to cut industry consumption would also help achieve the objective. Given the expected economic growth, Kazakhstan may suffer a shortage of power in 2008-2009, he said.
Nazarbayev said about 450 billion tenges ($3 billion) would be channeled into agriculture over the next seven years. The government plans to finance the advanced processing of agricultural products to make them competitive on global markets, he said. Kazakhstan hopes to become one of the five largest grain exporters.
According to the president, small and medium businesses will account for 40% of GDP by 2010. "When 60% of the population is employed in small and medium enterprises, making the same amount of products, Kazakhstan will achieve stability in politics and inter-state relations," he said.
Sustainable economic growth will allow for a considerable increase in welfare funding.
"We are working to increase per capita GDP to $8,000-$9,000 in 2012," he said. By that time, average salaries will double, exceeding $470, social allowances and scholarships will more than double, and pensions will increase 1.5-2-fold, the president said, also promising to increase spending on education and science threefold and healthcare, 3.5-fold.
"These and other measures will be an effective way to raise our people's standard of living," the president said.
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