Government considers Kazakhstan economic development results for 9 months

Government considers Kazakhstan economic development results for 9 months

The results of social and economic development of the country and execution of the republican budget for Jan-Sept 2022 were considered at the Government session chaired by Prime Minister Alikhan Smailov.

The Minister of National Economy Alibek Kuantyrov reported that during the reporting period the growth rate of the republic's economy amounted to 2.8%. Among the sectors with positive dynamics are agriculture (by 6.9%), information and communication (6.7%), construction (5.1%), transport and storage (4.8%), manufacturing (4.6%), trade (4.3%) and mining (0.1%).

Foreign trade turnover increased 36.3% to $86.3 billion, with exports up 50.6% ($56 billion), including exports of processed goods up 36.5% ($16.6 billion) and imports of goods up $30 billion. Overall, the positive trade balance reached $26.4 billion.

Manufacturing industry also maintains a positive growth rate. During Jan-Sept the output grew by 4.6%. In addition, during the reporting period 10.5 million square meters of housing was commissioned, which is 0.9% more than during the same period of 2021.

As Deputy Prime Minister, Minister of Finance Yerulan Zhamaubayev informed, state budget revenues amounted to 11 trillion 177 billion tenge (plan fulfilled by 104.8%). In particular, the national budget received about 7.5 trillion tenge (101.9%), local budgets 3.7 trillion tenge (111.2%). The state budget expenditures were executed by 96.2%, the national budget by 96.3%, local budgets by 97.9%.

According to the Minister of Agriculture, Yerbol Karashukeyev, the gross output of agriculture increased by 6.9% over 9 months of this year and amounted to 6.8 trillion tenge. This growth was provided by an increase of production volumes in crop production by 11% and livestock production by 1.1%.

The output of food products in this period increased by 3.7% and amounted to 2.1 trillion tenge. In general, there was an increase of production of sugar (49.8%), cereals (40%), vegetable oil (39.9%), fish (20.3%), flour (10.2%), processed rice (8%), pasta (5.8%), chicken eggs (5.3%), sausages (4.9%), cow's milk (1.8%) and meat in live weight (0.7%).

The harvesting of crops is in its final stage. As of Oct. 10th, 15.9 million hectares were harvested, 21.6 million tons of grain were threshed in bunker weight with the average yield of 13.5 centners/hectare.

The Chairman of the National Bank Galymzhan Pirmatov and the Ministers of Industry and Infrastructural Development Kairbek Uskenbayev and Energy Bolat Akchulakov also made reports.

The Prime Minister noted that by the end of the year it is necessary to strengthen the work to stimulate business activity and increase growth rates in all spheres of the economy.

"It is necessary to strengthen support measures for large enterprises to implement their production plans. Analyze and provide solution of their problematic issues on circulating assets, infrastructure, logistics and sales of products," Smailov said.

At the same time, he said, it is necessary to increase the number of investment projects in non-resource sectors, including manufacturing, agriculture, transport, logistics, IT, tourism, etc.

Prime Minister also instructed to work out specific measures to improve conditions for the development of small and medium-sized businesses, support entrepreneurial initiatives, stimulate job creation, as well as to ensure the full and effective implementation of investment and infrastructure projects, which are financed from the budget.

By the press service of Kazzakh PM