The outcomes of Kazakhstan’s
socio-economic development over the first 10 months of 2023 were presented at a
government meeting. Since the beginning of the year, a number of industries
have demonstrated positive dynamics, particularly, mechanical engineering. In a
10-month period, it grew by 27 percent, and the volume growth in the automotive
industry was almost half, amounting to 42 percent. The domestic light industry
also showed an increase of nearly 12 percent. Growth rates in the construction
sector were slightly higher, with over 13 million square meters of housing put
into operation. The real growth of the domestic economy amounted to slightly
less than five percent since the start of the year. Moreover, the inflation rate
was reduced to 10.8 percent. Kazakh Prime Minister Alikhan Smailov instructed
all regions to ensure the achievement of target indicators of socio-economic
development by the year-end, highlighting the attraction of private investment
as a priority task.
“Government agencies and regions in Kazakhstan need
to work on attracting investments and ensuring the implementation of planned
projects. In addition, President Kassym-Jomart Tokayev set a task for
each medium-sized enterprise to expand production 2-3 times,” said Smailov.
