Since the beginning of the year, Kazakhstan’s economic growth made up nearly 4%

Since the beginning of the year, Kazakhstan’s economic growth made up nearly 4%

Since the beginning of the year, Kazakhstan’s economic growth made up nearly 4%. Positive dynamics is observed in all industries. According to the Kazakh Ministry of Economy, this was facilitated by increased investment activity and the implementation of state programs to diversify the economy, develop the agro-industrial complex, entrepreneurship and infrastructure.

This year the industrial growth amounted to more than 7%. In addition to stable production of oil and gas, the processing sector has become a driving force of development. Pharmaceutical products made up 42%. Production of furniture and machinery is growing, too.

TIMUR SULEIMENOV, KAZAKH MINISTER OF ECONOMY:

- In general, to conclude the results of 11 months, Kazakhstan’s economy demonstrates stable growth rates, which allows expecting the GDP growth at 4.0% at the end of the year. 

The improvement of economic indicators allowed increasing the revenues to the budget. Within 11 months, the revenues are estimated at 520 billion tenge comparing to the last year. The total amount income to the country’s treasury made up over 6 trillion tenge.

BAKHYT SULTANOV, KAZAKH MINISTER OF FINANCE:

 - The amount of over fulfillment by the state budget made up 153 billion tenge, particularly, the republican share amounted to 71 billion tenge and the local stake is estimated at 82 billion tenge. In general, the revenues of the state budget were fulfilled by 102.5%

Trade has enjoyed a new impetus, too. From January to November, the volume of exported products was two times higher than the imported ones. The export of supplies including fats and oils, sugar and confectionery has been increased. In general, the foreign trade turnover of the country grew by 25% and amounted to 62 billion tenge.