Economy of Kazakhstan grows by 4.4% YTD

Economy of Kazakhstan grows by 4.4% YTD

In Kazakhstan, since the beginning of the year, the growth rate of the economy amounted to 4.4%. According to the Minister of National Economy Alibek Kuantirov, in January-April, there is an acceleration of growth in the real sector, a gradual increase in exports, a stable trend in the service sector.

"The growth rate of the economy of Kazakhstan amounted to 4.4%. Growth in the real sector amounted to 5.1%. Business activity in the service sector increased to 3.4%. Among the sectors, trade, construction, transport and warehousing, information and communication, manufacturing, water supply, mining, agriculture," he said.

The growth rate of investments in fixed assets amounted to 2.3%. Investments, he said, increased in education by 87%, public administration and social security by 74.1%, in construction by 61.9%, in scientific and technical activities by 53.7%. In the regional context, the best indicators are noted in the city of Shymkent, as well as in the Akmola region and the city of Almaty.

In agriculture, according to the minister, gross output increased by 1.9%. Growth in production in the industry was recorded in 12 regions. The greatest growth was shown by the Mangystau, North-Kazakhstan and East-Kazakhstan regions. The lowest rates are observed in the Kostanay and the West Kazakhstan regions.

Meanwhile, the overall economic situation in the regional context in terms of seven economic indicators is as follows.

"For all indicators, positive growth is observed in six regions: Akmola, Almaty, Pavlodar, East Kazakhstan regions, as well as in the cities of Nur-Sultan and Shymkent. According to six indicators, growth is observed in five regions. These are Aktobe, Karaganda, Kostanay, Kyzylorda, North Kazakhstan region," he said.

In this regard, Kuantirov proposes that central and local government agencies focus on ensuring the effective conduct of the agricultural and construction and installation season and maintaining price stability for socially significant food products, on ensuring their availability to the population through existing mechanisms.

"In addition, it is necessary to promptly respond to business requests and actively support entrepreneurs at all levels. Formation of a single pool of investment projects and effective implementation of mechanisms for attracting and supporting investors. Comprehensive support for existing and new exporters with timely provision of the necessary financial and non-financial support measures," summed up the head of the department.

Earlier it was reported whether the money from the National Fund will help mitigate the crisis in Kazakhstan.

Last week, an updated forecast of the country's economic indicators for 2022 was submitted to the government. According to him, the transfer from the National Fund will be increased by 1.6 trillion tenge, inflation is determined in the corridor of 8-10%, and economic growth expectations are reduced from 3.9% to 2.1%. According to the results of March, annual inflation in Kazakhstan reached 12%.

By Jamilya Karimova for LS (Kazakhstan).