IMPORT SUBSTITUTION POTENTIAL OF THE REPUBLIC OF KAZAKHSTAN

For more than 30 years of independence, the Republic of Kazakhstan has not yet reached a high level of selfsufficiency in the production of products and goods for the population. On the shelves of the country you can see many imported goods. As a result, the constant growth of imports has a negative impact on domestic inflation. So, for the period from 2017 to 2022, imports to Kazakhstan increased by 69%. The share of imports in the domestic market is significant for a number of goods. Inflation growth in Kazakhstan in January 2023 in annual terms increased to 20.7%. In December 2022, there was an increase to 20.3%. Over the year, food prices increased by 25.7%, non-food products rose by 20.2%, and the cost of paid services increased by 14.2%. There is a need to implement an import substitution program that will improve the situation with economic security (self-sufficiency of the domestic market, including food) and reduce the growth of domestic inflation. The analysis of the import substitution potential in the Republic of Kazakhstan was carried out. Attention is focused on the direction in which the state and other interested parties need to move to solve the problem of import substitution without opening new industries.