In the first 8 months, the GDP growth in Kazakhstan was estimated at 3.8%

In the first 8 months, the GDP growth in Kazakhstan was estimated at 3.8%

Kazakhstan’s economy maintains a positive trend. According to the Kazakh Minister of National Economy Timur Suleimenov, in the first eight months, the GDP growth in Kazakhstan was estimated at 3.8%. Timur Suleimenov says that it is feasible to achieve a further goal of ensuring a minimum 4% growth of the GDP. For this purpose, by the end of the year, it is necessary to increase indicators for all sectors of the economy by 4.2% on average.

TIMUR SULEIMENOV, KAZAKH MINISTER OF NATIONAL ECONOMY:

 - Taking into consideration the accumulated GDP growth rate since the beginning of the year, the 4% target remains feasible. However, when it comes to the industries like pharmaceuticals, food and beverage production, oil refining and agriculture, it is necessary to ensure the 4-9% monthly growth by the end of the year.

Since the beginning of the year, investments in fixed assets have increased by 21.4%. Private investments have grown by almost 27%. The foreign trade turnover has shown a high growth trend with a 20% increase in seven months, which totals US$52 billion. Exports have increased by 26% and amounted to US$34 billion. The increase of non-commodity exports to foreign markets amounted to more than 4%, which is US$9 billion.