Kazakhstan’s GDP grew 4% since the beginning of the year

Kazakhstan’s GDP grew 4% since the beginning of the year

Kazakhstan’s GDP grew four per cent and the Republican's budget increased more than four trillion Tenge since the beginning of the year. According to Government officials, the economy grew due to the positive progress in the main sectors of the economy and high investment activity. US$7 billion of foreign direct investments (FDI) were attracted to Kazakhstan in the first seven months of this year. The FDI is 24.4 per cent higher compared to the same period in 2017.

TIMUR SULEIMENOV, KAZAKH MINISTER OF NATIONAL ECONOMY:

- The GDP grew by four per cent from January to July of this year. The main contributors to the economic growth are reduced inflationary pressure, high investment activity and upward growth in the main sectors of the economy. The inflation rate remains at the lowest level in three years.

Foreign trade turnover rates made up more than 16 per cent in the first six months of 2018 and continue to grow. Export volumes increased by almost 22 per cent while import by eight per cent. The growth is seen in the processing and agricultural industries. Meanwhile, the total volume of container transportation through Kazakhstan has grown in the first seven months of this year. The revenue generated by transportation grew by 17.5 per cent, totaling 1.5 trillion Tenge.

ZHENIS KASSYMBEK, KAZAKH MINISTER OF INVESTMENTS AND DEVELOPMENT:

The total volume of container transportations from China to Europe through Kazakhstan exceeded 250,000 containers which is 40 per cent higher compared to last year.

144,000 cargo containers were transported through Kazakhstan along the China-Europe route which is 63 per cent higher compared to the same period last year.