At a meeting of the Government chaired by Prime Minister Askar Mamin, the revised forecast of socio-economic development of Kazakhstan for 2021-2025 and the republican budget for 2021-2023 were considered.
Minister of National Economy Asset Irgaliyev, Minister of Finance Yerulan Zhamaubayev and First Deputy Prime Minister Alikhan Smailov made reports.
"Taking into account the operational data on the growth of the economy of Kazakhstan since the beginning of the year and the situation in the world commodity markets, as well as forecasts for the growth of the world economy, the Government has clarified the indicators of the Forecast of socio-economic development for 2021," the statement said.
Thus, the forecast for the country's economic growth in 2021 has been improved from 2.8% to 3.1%. The oil price is projected at $ 50 per barrel (previously $ 35), the national currency rate is 425 tenge per dollar (previously 420 tenge).
The forecast indicators in the manufacturing industry were improved from 4.1% to 5.2% due to more active growth in metallurgy production amid recovery in external demand. In construction, the forecast has been improved from 2.5% to 5% due to the planned commissioning of 17 million sq. m. of housing. In information and communications, the forecast was increased from 3.8% to 6.5% as a result of the growth in demand for IT services.
According to the National Bank's forecast, exports will increase by $ 10.8 billion - up to $ 52.2 billion. Inflation has remained in the previously approved corridor of 4.0-6.0%.
Based on the revised macroeconomic forecast, the forecast of the parameters of the republican budget for 2021 was refined. The main directions of expenditures of the revised budget for the current year are to ensure the implementation of the Nur Otan party program and the Address of the Head of State to the people of Kazakhstan dated September 1, 2020.
In addition, the costs will be spent on financing measures to combat the pandemic and modernizing the health care system, as well as stimulating the real sector of the economy.
The Prime Minister instructed to submit to the Parliament the Forecast of socio-economic development of Kazakhstan for 2021-2025 and a bill on the revised republican budget for 2021-2025.
By Ekaterina Eliseyeva for Kazakhstanskaya Pravda
