Kazakhstan’s economy has
demonstrated positive dynamics with a GDP growth of 4.2 percent in the period
from January to February 2024. Growth in the real sector exceeded five percent,
while the service sector saw a growth of 3.5 percent. As noted by the country’s
Ministry of National Economy, the highest growth rates are observed in
construction, transport, information and communication, warehousing and
manufacturing industries with the significant surge of investment in these
areas. Capital investment in the construction sector increased 2.7 times and
amounted to slightly more or less than 50 percent in other industries, as
announced by Minister of National Economy Nurlan Baibazarov at a government
meeting. According to preliminary results, the foreign trade turnover exceeded
$10 billion in January, with $6 billion coming from exports, Baibazarov noted. Overall,
a positive trade balance reached $1.7 billion. Also, revenues to the state
budget surpassed three trillion tenge, while the national budget increased by
almost two trillion tenge, as reported by the Kazakh Finance Ministry.
“The current positive growth
dynamics needs to be further enhanced. The Kazakh government and the country’s
National Bank face a very important task of reducing the inflation pressure.
Attracting investments requires ensuring the availability of ready
infrastructure through its systematic modernization. The priorities of economic
policy include gradual reduction of the state’s share in the economy and provision
of equal opportunities for everyone. Thus, it is necessary to ensure the
high-quality and timely execution of President Tokayev’s instructions to
liberalize the economy,” said Kazakh Prime Minister Olzhas Bektenov,
