Economic growth in Kazakhstan over 5 months reaches 4%


Minister of National Economy Ruslan Dalenov reported on the results of the socio-economic development of the country in January-May 2019. “In general, according to the results of 5 months of 2019, the positive dynamics of GDP has been maintained. GDP growth reached 4.0%. The annual inflation rate amounted to 5.3%. This is within the corridor of inflation at 4-6%. The dynamics of investment growth is ahead of GDP growth. Growth accelerated to 7.8% against 6.7% for 4 months of the current year. Investments in agriculture and construction increased one and a half times. Investments in industry grew by 17.5%,” the minister said.

Compared with the last month, international reserves increased by 0.4%. Their volume amounted to 86.7 billion dollar. Industrial production in January-May of the current year increased by 2.0%. Oil production decreased by 3.2%. This happened due to the planned repair work.

“The growth in the manufacturing industry reached 3.6%. This offset the decline in oil production. In the manufacturing industry, double-digit growth was achieved by light industry at 23.0%, beverage production at 18.9%, mechanical engineering at 16.0%, plastic products at 12.0%, and pharmaceuticals at 11.6%. Production in the metallurgical industry was restored. The output reached the level of last year,” he said.

In agriculture, a steady growth is observed, the volume of production increased by 3.7%. The increase is due to an increase in livestock by 3.6% and crop production by 8.1%.

By Ainagul Elyubayeva for Kapital (Kazakhstan).