Tokayev nominated for Kazakhstan president

The National Volunteer Network of Kazakhstan at a meeting in Astana has nominated incumbent head of state Kassym-Jomart Tokayev as a presidential candidate.

Tokayev himself announced the end of the era of "oligarchic capitalism" in the country, Kommersant reports.

"We believe that the package of reforms proposed by Kassym-Jomart Tokayev covers many areas that also concern us. Therefore, we decided to nominate him," the head of the youth association Olzhas Suleimenov said on October 4.

Early presidential elections will be held in Kazakhstan on November 20.

"The era of oligarchic capitalism in Kazakhstan is coming to an end, a period of social responsibility to the citizens of the country is coming. Our citizens need an effective and socially responsible business that occupies a leading position in the country's economy," Tokayev said on October 5 during a speech in the Karaganda region. The president noted that Kazakhstan should observe the principles of fair economic cooperation, "generally accepted throughout the civilised world".

On September 1 of this year, Kassym-Jomart Tokayev announced an updated economic course in Kazakhstan, the priorities of which will be to reduce state interference in the economy and support business. On September 17, he also approved amendments to the Constitution, in particular, suggesting that the president of the republic will be able to be elected to his post for only one seven-year term.