Kazakhstan aims to double its GDP by 2029. Based on last
year’s results, the target was met, and work in this direction continues
through measures such as stimulating investment inflows, boosting labor
productivity, and expanding the non-resource sector of the economy. The
Government discussed progress in implementing President Kassym-Jomart Tokayev’s
instructions and the country’s socio-economic development results over the
first seven months of the year. It was noted that, thanks to the measures taken,
investment in fixed capital increased during the reporting period. Extensive efforts
are underway to diversify the economy, with a focus on deeper processing of raw
materials and the development of related industries. As a result, a number of
sectors have recorded significant growth in their performance indicators.
«In January-July this year, economic growth reached 6.3%.
Growth in the real sector amounted to 8.3%, while services output rose by 5.2%.
The main drivers were transport - 22.5%, construction - 18.5%, and trade - 8.6%.
The mining industry continued to grow, recording an 8.5% increase, while the
manufacturing sector also showed strong growth of over 6%,» said Kazakh Deputy
Prime Minister and Minister of National Economy Serik Zhumangarin.
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