Kazakhstan’s GDP grows 5.1% in 2023

Kazakhstan’s GDP grows 5.1% in 2023

Last year, annual inflation in Kazakhstan decreased by half to 9.8percent. The Mazhilis, a Lower House of the Kazakh Parliament, reviewed the report on the implementation of the state budget in 2023. According to the Ministry of Finance, Kazakhstan's economic growth exceeded five percent due to an influx of investments in fixed capital and accelerated development in key sectors, including the manufacturing industry, construction, trade, and transportation. State revenues increased by four trillion tenge compared to 2022, as reported by the relevant ministry. The necessary funding allowed the government to fulfill all its social obligations. It implemented three national projects, with over 625 billion tenge allocated from various sources for their realization.

«500 billion tenge has been allocated to the regions from the National Fund for the implementation of the Comfortable School pilot national project. This year, the construction of 217 schools will be completed. Additionally, 37.8 billion tenge out of the provided 42 billion tenge for the implementation of the Modernization of Rural Healthcare pilot project have been allocated. In 2023, the construction of 99 primary healthcare facilities was planned,» said Kazakh Minister of Finance Madi Takiyev.