Kazakhstan’s GDP in January-February 2018 grew 4 percent

Kazakhstan’s GDP in January-February 2018 grew 4 percent. The figures were provided by the Kazakh Minister of National Economy. As a comparison, in the same period last year the indicators were 2.5 percent. According to minister Suleimenov, the positive dynamics were caused by higher rates in manufacturing, services and increased investments. Fixed capital investments have increased by about 54 and a half percent. This growth is related to modernization and reconstruction of the Shymkent Oil Refinery. The rates were also affected by the construction of the third generation plant and implementation of the further expansion project at the Tengiz Oil Field. Investments have grown significantly in construction, industry and trade. Agriculture is actively developing in the country – its growth made up 3.3 percent due to improved livestock breeding.    

TIMUR SULEIMENOV, KAZAKH MINISTER OF NATIONAL ECONOMY:

 - The industrial growth made up 5.6 percent. It is higher than the rate of the same period last year. Production rate in mining industry grew five and a half percent. Growth is related to the increased gas, oil and iron ore production. Manufacturing has grown 6.1 percent. Double figure growth is seen in paper production, chemical industry, beverage and furniture production.