Kazakhstan’s economy growth rate improves


The real sector of the economy of Kazakhstan demonstrates stable positive dynamics. This is evidenced by the macroeconomic indicators for January and February. During this period, the GDP growth rate improved to 2.9 percent. In the real sector, growth accelerated to 6.3 percent. Growth in mechanical engineering, production of building materials, chemical products, clothing, furniture, pharmaceuticals accelerated as well. Kazakh Prime Minister Askar Mamin talked about positive data at a regular meeting of the government. According to him, the conditions that provide for an increase in daily oil production by 20,000 barrels are very important for Kazakhstan. These measures will allow to moderately increase the growth rate in the mining sector.

“The main drivers of the economic development are the manufacturing industry, agriculture and construction, including the commissioning of housing. They have shown stable and steady growth since the beginning of the year. There is a gradual recovery in the service sector. Investments in fixed assets excluding mining grew by 13.3 percent. In the context of global decline in investment activity, there is a high competition for attracting high-quality investments. It is necessary to ensure the effective implementation of the privatization plan with the active participation of domestic and foreign investors,” said the Prime Minister.