Investments in fixed assets in Kazakhstan increase to 23 trillion tenge

Investments in fixed assets in Kazakhstan increase to 23 trillion tenge

Seven years of Kassym-Jomart Tokayev’s presidency have been a period of structural transformation in Kazakhstan’s development model and strengthening of the country’s international standing. Reforms were implemented amid global turbulence, yet the country managed to maintain macroeconomic stability and ensure sustainable growth, according to an article by Prime Minister Olzhas Bektenov, published in the newspapers Kazakhstanskaya Pravda and Egemen Kazakhstan. As a result, the country’s economic volume increased 1.7 times. Notably, key contributions came from construction, transport, the services sector, and manufacturing. The latter grew more than 2.5 times. Investments in fixed capital also rose, from 12.5 to almost 23 trillion tenge. A major focus has been the country’s transit potential. Over the past seven years, about a thousand kilometers of new railway lines were constructed, ports on the Caspian were modernized, and transport volumes along the Trans-Caspian Transport Route increased fivefold. All these achievements reflect the Head of State’s commitment to laying a solid foundation for Kazakhstan’s further sustainable development and the well-being of its citizens. They formed the basis for the draft of the country’s new Constitution.